JOLIET, Ill., Aug. 28, 2012 (GLOBE NEWSWIRE) -- CORFAC International 2012 President Doug Marshall announced that two CORFAC firms have teamed up and represented Johnstone Supply Inc. in a 10-year, 236,273-square-foot lease at 3500 Corporate Drive in Joliet, IL. It is the first industrial property in Illinois to be occupied by Johnstone Supply.
Steven Tick, SIOR and a Principal with Podolsky Northstar CORFAC International, based in the Chicago suburb of Riverwoods, completed the lease on behalf of Johnstone Supply in collaboration with the referring broker, Scott Madsen, SIOR and a Principal with Portland, OR-based Capacity Commercial Group/CORFAC International.
Johnstone Supply is a national wholesaler and distributor in the heating, ventilating, air conditioning and refrigeration industry. Johnstone Supply is a member-owned cooperative headquartered in Portland, OR. The company has distributions facilities in Portland (OR), Las Vegas (NV), Memphis (TN), Jacksonville (FL) and Allentown (PA). Capacity Commercial Group's Madsen has negotiated lease transactions on behalf of Johnstone at each one of these locations.
According to Madsen: "The new Joliet facility will relieve pressure on the Memphis distribution center and will offer same-day deliveries to Johnstone stores in Illinois, Wisconsin, Iowa, Missouri, Indiana and other neighboring states."
In the states near its new Joliet facility, the company has 16 retail stores in Illinois, eight stores in Indiana, five stores in Iowa, six stores in Wisconsin, 11 stores in Missouri, 10 stores in Kentucky and 18 stores in Michigan.
The building is a Class A, 442,484-square-foot distribution facility that is owned by State Teachers Retirement System of Ohio (STRS Ohio). Johnstone Supply is a member-owned cooperative headquartered in Portland, OR. Johnstone's lease includes 8,600 square feet of office space and a hazardous materials room. The building is cross-docked; however, 23 new additional truck docks are being built so Johnstone can use its portion of the facility as a single-loaded distribution center. Johnstone plans to take occupancy beginning on January 1, 2013.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies. Founded in 1989, U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact 703.532.6160 or visit http://www.corfac.com/">www.corfac.com.
To learn more about Capacity Commercial Group/CORFAC International, visit www.capacitycommercial.com.
To learn more about Podolsky Northstar CORFAC International, visit www.podolsky.com.
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