Real Estate
Lee & Assoc. of IL Brings University Park Building to 100% Occupancy
Representing both owner and tenant in this transaction, the 150,000 sq ft industrial building at 500 Crossing Drive, is now fully leased.
University Park, IL — Sept 5, 2023 — Lee & Associates, one of the largest national commercial real estate providers in North America, has represented both owner and tenant in a 74,978-square-foot lease at 500 Crossing Drive in University Park, IL. With this transaction, the 150,000-square-foot industrial building constructed in 2006, is now 100 percent leased.
Brian Vanosky, Principal; Michael O’Leary, Senior Vice President; and Dylan Maher, Vice President represented the landlord, Mapletree. Jeff Galante, SIOR, Principal, represented the tenant, Alive Telecom. All brokers are with Lee & Associates of Illinois.
Vanosky said, “Our team is excited to have represented Mapletree in 150,000 square feet of transactions at the property over the past 18 months. The demand further supports the viability of the I-80 corridor and University Park as a great location for both manufacturing and distribution purposes.”
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Alive Telecom in a growing global supplier of equipment, systems and services for the communications market. “This building allows Alive Telecom to strategically scale its operations as it continues to grow ,” Galante said.
About Lee & Associates
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Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog. For more Lee & Associates of Illinois happenings, connect with us on LinkedIn, Twitter and Instagram.
