Chicago-based HSA Commercial Real Estate and New York-based Clarion Partners LLC today jointly announced the firms have signed a 381,874-square-foot, long-term lease with Kenco Logistics Services at the Heartland Corporate Center, a 757,880-square-foot warehouse development at 21530 SW Frontage Road in Shorewood, Ill., near the I-55 and I-80 interchange. Chattanooga, Tenn.-based Kenco Logistics, one of the largest privately held third-party logistics firms in the country, will take occupancy of the facility in December once interior improvements are completed. The transaction is one of the largest industrial leases signed in the Chicago market since the start of the COVID-19 pandemic.
Now fully leased, the Heartland Corporate Center was developed by HSA Commercial Real Estate in partnership with Clarion Partners on a 46-acre land site. The distribution center features 36-foot clear heights, 108 truck docks and 240 parking spaces for employees and visitors.
“Despite the headwinds in the economy as a result of the pandemic, industrial leasing activity has remained really strong for well-located distribution centers as businesses and consumers have come to expect same-day or expedited delivery for everything they order – now more than ever,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. “We are thrilled but not surprised at the speed of the lease-up at Heartland Corporate Center because its strategic location at the interchange of I-80 and I-55 was pitch-perfect in terms of satisfying expectations for today’s consumers.”
The lease with Kenco Logistics is the second executed at the Shorewood property. In November 2019, ownership announced a 375,000-square-foot lease with Des Plaines, Ill.-based DSC Logistics.
Tim Thompson, executive vice president of HSA Commercial, spearheaded the development on behalf of the firm. David Bercu and Matthew Stauber of Colliers International represented ownership in the Kenco Logistics lease, while Sean Henrick of Cushman & Wakefield represented the tenant.