Schwab Paper Products recently renewed their five-year, 55,000-square-foot lease at 636 Schwab Cir., an industrial building in Romeoville, IL. Terri Alexander of Transwestern represented the tenant during leasing negotiations while Lee & Associates principal Ryan Earley represented the owner Link Logistics.
Previously owned by Schwab Paper Products, Transwestern had previously assisted in its sale/leaseback and several sublease negotiations within the building. According to Alexander “Tenants are experiencing a difficult time in the market when it comes to renewals; with market rents increasing dramatically tenants can experience sticker shock at renewal rates.” She added that “while it was possible to find opportunities with lower rent costs of improvements and move costs ultimately became determining factors for this lease renewal” The manufacturing building features thicker floors, distributed electric power supply systems , food grade improvements as well as upgraded HVAC system .
