The Chicago office of Duke Realty, a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, has signed a new lease with GELS Logistics in Carol Stream III, its 304,624-square-foot bulk warehouse located at 370 Kimberly Drive in Carol Stream, Ill. GELS Logistics, a global e-commerce logistics company, will lease 154,275 square feet, which brings Carol Stream III, as well as all of Duke Realty’s five buildings in Carol Stream Business Park, to 100 percent occupancy.
“Our Carol Stream properties continue to be attractive to warehouse and distribution companies because of their central location and ability to serve the greater Chicago area,” said Ryan O’Leary, Senior Vice President of Duke Realty’s Chicago operations. “We are pleased to welcome GELS Logistics to Carol Stream III and to the benefits that Carol Stream Business Park offers logistics customers.”
Duke Realty’s portfolio in Carol Stream Business Park is comprised of five buildings totaling 1.4 million square feet. The park is located 3.5 miles from I-355, just off Route 64 (North Avenue) between Gary Avenue and Schmale Road.
Jason West with Cushman & Wakefield represented GELS Logistics in the transaction, while Duke Realty was represented by listing agent Brian Colson with NAI Hiffman and Susan Bergdoll with Duke Realty.