Saturday, January 19, 2019 || By Local News Curator || @maywoodnews
Featured image: A facility at 5300 Proviso Drive in Melrose Park. | Courtesy of Transwestern
A logistics company based in Columbus, Oh. is planning to turn a nearly 350,000-square foot industrial building in Melrose Park into a distribution center, according to a statement released by Transwestern, the company that brokered the lease, in the American Journal of Transportation.
Transwestern announced on Jan. 11 that it had “brokered a 343,410-square-foot industrial building lease for ODW Logistics Inc. at 5300 Proviso Drive in Melrose Park,” the report notes. “Senior Vice President John Joyce, CCIM, represented the landlord, TSP Melrose Park LLC in the deal.”
According to a report in Bisnow, the new lease starts in September 2020. ODW Logistics, a third-party provider of salt and salt-based products, stands to benefit from the property’s unique location and characteristics.
Those include “railway access and [the fact that it is] cross-docked with 84 truck-level docks, 17 trailer positions, 10 rail doors, 120 car parking spaces, two air freight doors and 30,000 square feet of office space,” AJOT notes.
“It provides proximity to Interstates 290, 294 and 88. The property is also a 15-minute drive from the south cargo entrance of Chicago O’Hare International Airport.”
“This is one of the largest deals completed in the O’Hare submarket this year in terms of square feet,” stated Sandy McDonald, Transwestern’s director of market research – Midwest.
“Based on current market conditions, we expect the 1.1 million square feet of speculative space delivered in [third quarter] will soon be absorbed,” she said. “However, second-generation space still meets user demand because of favorable economics that tenants can enjoy.” VFP
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