Bunzl Retail Services signed a 10-year lease extension at a Morton Grove warehouse facility that will see it expand its space by more nearly 25 percent.
As part of the deal with the retail service company, landlord Missner Group will expand and upgrade the facility at 8338 Austin Avenue, adding 8,500 square feet of office space for Bunzl along with 12,500 square feet of warehouse space.
When completed, Bunzl will occupy 117,000 square feet in the facility where it’s been a tenant for more than 40 years, according to Des Plaines-based developer Missner.
The new lease comes as the industrial market has been firing on all cylinders in Chicago, where the demand for industrial space has approached record levels. That echoes a broader national trend, as demand for warehouse and logistics space has reached an 18-year-high across the U.S.
Developers are taking note, too. The third quarter of this year saw more industrial construction starts than at any time in the past two years.Recommend0 recommendationsPublished in