Commercial real estate services firm Cushman & Wakefield has inked a 226,000-square-foot industrial lease in Romeoville on behalf of "Apollo" Flow Controls. The company will relocate its regional distribution operation to 1881 Normantown Road, which is owned by Molto Capital.
An Aalberts Industries company, "Apollo" Flow Controls produces and sells the most complete line of flow control products in the commercial and industrial markets today. They have operations across the United States with manufacturing in North Carolina and South Carolina, Indiana, Arkansas, and Tennessee.
Cushman & Wakefield's Britt Casey, Chris Lydon and Al Caruana represent "Apollo" Flow Controls with its real estate activities nationwide. The Rosemont, Ill.-based team has orchestrated a national roll out of four regional distribution centers of similar size in Reno, Orlando, and Pittston, PA for the organization over the past year, including the long-term commitment in Romeoville. Jim Estus from Colliers International served as landlord representative for Molto Capital.
'"Apollo" Flow Controls ultimately selected the Molto property due to several factors including location, size, new construction status and I-55 frontage," Casey said. "This lease concludes an 18-month effort on behalf of the client working along with our partners at the St. Onge Company. We effectively revamped the national distribution footprint for "Apollo."'
Demand in the Chicago industrial market shows no signs of slowing in 2017, according to Cushman & Wakefield Research. The firm is tracking tenants looking for roughly 20.0 million square feet of industrial space, indicating market fundamentals such as leasing activity and absorption will further improve in coming months.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2016 globally, this group completed more than 4,799 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 185.8 million square feet with an aggregate value in excess of $6.2 billion.
About Cushman & WakefieldCushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.