Glenview, Ill.-based North American Corp. recently signed a lease for a 122,730-square-foot space in an 183,000-square-foot building in the GrandView Business Park at 1800 S. Sylvania Ave. in the Town of Yorkville in Racine County.
The lease fills the building that was built last year on speculation by Oak Brook, Ill.-based CenterPoint Properties and Milwaukee-based Wispark LLC. The only other tenant in the building is Anixter Inc., which occupies about 61,000 square feet of space.
Wispark and CenterPoint were represented by Scott Furmanski, Trent Poole and Roger Siegel of CBRE. North American Corp. was represented by Colliers Bennett & Kahnweiler LLC.
The successful lease-up of the building demonstrates the strength of the industrial market in Racine County, which has a vacancy rate of 2.9 percent, according to Xceligent Inc.
“That Racine market is unbelievable right now,” Poole said. There is a lack of available modern industrial space in the Racine area and tenants are attracted to the I-94 corridor between Milwaukee and the Chicago area, he said.
North American Corp., a distributor of janitorial supplies and paper products, is moving its operations from a 49,500-square-foot building in Waukesha to the GrandView building. The Waukesha building was purchased by Bartlett, Ill.-based Greco and Sons, which is moving its Milwaukee operations to the building.