Lee & Associates of Illinois has arranged the acquisition of a 455,858-square-foot industrial facility at 16801 Exchange Avenue in Lansing, Illinois. The transaction involves a large, heavily powered warehouse building positioned near the I-80 and I-94 corridors, providing regional highway access for industrial users.
Walter Murphy, principal at Lee & Associates of Illinois, represented the buyer, RBT Industries, which operates The Great Escape retail brand focused on home leisure products. As part of the transaction, RBT Industries will take occupancy of 313,982 square feet within the building. The balance of the property remains leased to LKQ Corporation, maintaining an existing income stream from the remaining space.
The seller in the transaction was Plymouth Industrial REIT, Inc., an institutional industrial real estate owner. Plymouth Industrial REIT was represented by a CBRE team comprising Stephanie Park, Colin Green and Traci Payette. The involvement of both Lee & Associates and CBRE underscores the role of brokerage expertise on each side of the deal, with formal representation of both buyer and seller.
According to Murphy, several factors drove RBT Industries’ decision to pursue this facility. The building offers the potential for future expansion, providing flexibility for the buyer’s long-term operational needs. In addition, cooperation from the Village of Lansing in securing a Class 8 tax incentive contributed to the building’s attractiveness, enhancing the economics of the acquisition for the user-buyer.
The property’s heavy power infrastructure and proximity to major interstate routes position it to support industrial operations and distribution activity. With RBT Industries occupying a significant portion of the building and LKQ Corporation continuing as a tenant in the remaining space, the asset combines an owner-user component with an existing lease in place, reflecting a hybrid occupancy profile within a single large-format industrial facility.
