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News release

Chicago

Jones Lang LaSalle Represents Navistar in 860,000 SF Industrial Lease

Truck and engine maker to move parts distribution facility to Joliet’s Cherry Hill Business Park


CHICAGO, Oct. 14, 2010 — Jones Lang LaSalle announced today that Navistar, Inc. (NYSE: NAV) will move its Midwest parts-distribution operations from West Chicago to an 860,100-square-foot industrial building in Joliet’s Cherry Hill Business Park.

Kris Bjorson and Dan McGillicuddy of Jones Lang LaSalle represented Navistar in the transaction while Trevor Ragsdale and Kelly Gray of Jones Lang LaSalle represented the park’s owners and developers, Schiller Park-based Northern Builders, Inc.

Under the terms of the 13-year lease — one of the largest industrial real estate transactions in the Midwest this year — Navistar will occupy the park’s Building #6, which Northern Builders will expand from 522,500 to 860,100 square feet. Navistar’s current Midwest distribution facility in West Chicago totals approximately 566,000 square feet in two adjacent buildings.

The 630-acre Cherry Hill Business Park is located approximately two miles west of the interchange between Interstate-80 and Interstate-355 in Will County. With the addition of Navistar, the park will now include 11 tenants occupying a total of nearly 5 million square feet of space.

“After an exhaustive, multi-state search, Navistar identified Cherry Hill Business Park as the ideal place to relocate this facility,” said Kris Bjorson, a Jones Lang LaSalle managing director, who led the team representing Navistar in the deal. “In addition to its proximity to the interstate, the park also provides great curb appeal and a first-class atmosphere befitting a major international corporation like Navistar.”

This is the eighth regional distribution center lease that Jones Lang LaSalle has negotiated for Navistar as it  continues to modernize their North American distribution network.

Sean Spellman, vice president of Northern Builders, said that Navistar’s long-term commitment to Cherry Hill Business Park further solidifies its reputation as one of the top locations for logistics operations in the I-80 Corridor.

“We are extremely proud to welcome Navistar to Cherry Hill,” Spellman said. “Navistar’s decision to move its Midwest distribution operations here is proof positive that our park provides unparalleled logistical advantages.”

About Navistar Parts

Navistar Parts, an operating unit of Navistar, Inc. delivers the right part, at the right place, at the right time. With the largest dealer network in North America, and extensive global locations, Navistar Parts supplies parts worldwide for International and IC Bus™ brand vehicles and MaxxForce brand diesel engines, as well as parts for all makes of medium- and heavy-duty trucks. With more than 700,000 parts, 10 global Parts Distribution Centers and 100 years of building a solid aftermarket parts supply chain, Navistar Parts keeps you up and running. Navistar Parts private labels include: International, Fleetrite, PΛRTSMΛRT and ReNEWed brands. Additional information on Navistar Parts can be found at www.navistarpartsandservice.com.  
 
About Navistar

Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.
 
About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $38 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.