Real estate deal of the week

Waukegan, Ill.-based Coleman Cable Inc. will lease a 502,000-square-foot industrial building that is being built, on speculation, in Pleasant Prairie by Oak Brook, Ill.-based CenterPoint Properties.

The building is under construction and is located at 11290 80th Ave. in the LakeView Corporate Park. Coleman Cable plans to move into the facility by April 1, and plans to have 75 employees working in the facility by the end of the year.

Coleman Cable is a manufacturer and innovator of wire and cable products, servicing the electrical, electronic and automotive markets. The company will maintain its headquarters in Waukegan and will use the Pleasant Prairie facility for warehousing and distribution. Coleman Cable will consolidate its existing warehouse and distribution facilities in Indianapolis, Gurnee, Ill. and Waukegan, Ill. at the Pleasant Prairie facility, which has 490,000 square feet of warehouse space, 12,000 square feet of office space and 56 exterior truck docks.

"The Pleasant Prairie location is needed in order to meet growing demands due to the company’s increasing sales and continued growth," said Gary Yetman, president and chief executive officer of Coleman Cable. "This will mark another important milestone for Coleman and should enable us to be more efficient in our distribution operations, to take advantage of recent developments in supply chain systems, and, ultimately and most importantly, to better serve our customers. At the same time, the pleasant Prairie location will allow the company to consolidate distribution facilities and reduce costs, while simultaneously establishing a platform to continue our track record of providing first-in-class logistics, delivery and customer service."

Kenosha County has attracted several distribution centers in recent years, including many that are used by northern Illinois firms that are having trouble finding land for industrial development in the Chicago area and are taking advantage of lower costs in Wisconsin.

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