by Paula Widholm With companies scaling back their distribution and manufacturing operations due to economic weakness and reduced consumer spending, industrial owners had a tough time snagging new tenants this year.
California Cartage Co. completed a 374,460-square-foot lease within Ryan Cos. US Inc.'s Laraway Crossings Business Park in Joliet. With this lease, California Cartage, a Long Beach, Calif., transportation and logistics firm, will relocate and significantly expand its local operations at this new location, 251 Laraway Road. The company previously occupied a 213,977-square-foot building in Elwood. Built in 2004, the building being leased by California Cartage was the first building developed by Ryan within the business park. Arnold Logistics previously occupied the building. Steve Connolly and Eric Tresslar of NAI Hiffman represented Ryan in the lease transaction. Mike Brown of e-realty represented California Cartage.
To read the full article by Paula Widholm in Chicago Industrial Properties, click here.