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News release

CHICAGO, IL

Industrial Manufacturer Thermal Care Selects 135,000 SF at 5600-5750 W. Jarvis Ave.

New Niles property is the fourth redevelopment for the immediate area in past 12 months


CHICAGO, May 20, 2015 – JLL today announced that it has secured a 135,277 square foot pre-lease for Thermal Care, Inc. at 5600-5750 W. Jarvis Avenue in Niles on behalf of owners Cabot Properties, Inc. and Seefried Industrial Properties. The new property will be the fourth redevelopment within the immediate area of North Cook County in the last 12 months.

“There is very high demand for new, modern industrial product in this submarket,” said Kurt Sarbaugh, Senior Vice President for JLL. “The concentration of skilled labor is hard to duplicate or relocate elsewhere.  This market has seen a lot of activity and we expect that to continue.”

Members of the JLL team representing Cabot and Seefried include Sarbaugh, Senior Vice President Steve Trapp and Vice President Robin Stolberg. CBRE’s Ryan Bain and Zach Graham represented Thermal Care.

The site, which when complete in the first quarter of 2016, will have 217,064 square feet of total space on 11.23 acres just north of Touhy Avenue. Demolition of the former buildings started in May and the redevelopment will commence in June of this year.
Thermal Care’s 12-year lease is set to start in March of 2016. JLL will continue to market the additional 81,837 square feet still remaining at the location.

The Cabot / Seefried partnership will develop the building with 30-foot clear height and the remaining 81,837 square feet of space will have 11 fully equipped exterior loading docks and up to 73 car parking positions. 

“Securing a tenant like Thermal Care so soon in the process has provided us with great momentum for this project, said Brad Otis, Senior Vice President for Cabot Properties. “We really believe in this market moving forward and don’t expect the balance of this space to remain available for long.”

The tenant, Thermal Care, manufactures process cooling equipment for various industries globally. This includes temperature controllers, portable chillers and central chillers, cooling towers and pump/reservoirs. The company will move from their current location at 7720 North Lehigh Avenue in Niles.

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About Cabot Properties
Cabot Properties is a private equity real estate investment firm. The firm is a leading investor, developer and operator of industrial properties throughout North America and the United Kingdom. Formed in 1986, Cabot has invested $6.2 billion in industrial real estate, managing and operating approximately 3,000 tenants in more than 140 million square feet.

About Seefried Industrial Properties
Seefried Industrial Properties was founded in 1984 by Ferdinand Seefried and is still 100 percent privately owned today. Seefried focuses on industrial development in core markets and build-to-suits with corporate tenants and users in first and second-tier markets. It leases and manages approximately 23 million square feet for its institutional and European clients. Seefried’s development, construction, leasing, property management and accounting teams firmly believe that client relationships are solidity built on trust and further developed by each individual experience. Seefried is based in Atlanta, with regional offices in Dallas/Fort Worth, Chicago and Phoenix.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.