Lee & Associates of Illinois has arranged two industrial lease renewal transactions totaling 73,513 square feet in Itasca, Illinois, underscoring continued tenant commitment to the local industrial base. The pair of renewals involve a national building materials supplier and a Fortune 100 auto manufacturer, each opting to extend occupancy in existing facilities rather than relocate.
In the larger of the two transactions, Jeff Galante, SIOR and principal with Lee & Associates’ Illinois office, represented Richards Building Supply. The national supplier of exterior building materials chose to renew its lease for 58,513 square feet at 909 W. Irving Park Road in Itasca, Illinois. The single-tenant industrial property is owned by Westmount Realty Capital, which continues its relationship with Richards Building Supply as the existing tenant.
The second renewal involved a 15,000-square-foot flex building at 295 Spring Lake Drive in Itasca, Illinois. Lee & Associates principals Jeff Janda, SIOR, and Mike Plumb, SIOR, represented landlord Molto Properties in negotiating the lease extension. The tenant, a Fortune 100 auto manufacturing company, uses the facility as a training center and will maintain that use under the renewed lease.
On the tenant side of the 295 Spring Lake Drive transaction, Cal Payne of CBRE provided representation. Together with Lee & Associates’ Illinois team, the brokerage professionals facilitated lease extensions that allow both tenants to remain in place and landlords to preserve occupancy in their existing industrial and flex assets.
The Itasca renewals highlight how established industrial users, including nationally recognized brands and major manufacturers, continue to favor existing, functional locations that support training and distribution needs. While financial terms, rents, and lease durations were not disclosed, the deals illustrate the ongoing role of brokerage firms such as Lee & Associates of Illinois, CBRE, Westmount Realty Capital, and Molto Properties in sustaining occupancy and tenant relationships within Itasca’s industrial inventory.
