Manufacturer Moves Operations to 307,000-SF Aurora Industrial Building
17 Mar, 2010, Chicago
A leading manufacturer of audio-visual mounting equipment has signed a long-term lease for a 307,813-square-foot building in Aurora where it will consolidate its international operations.
The move by Peerless Industries, Inc., will bring roughly 400 jobs to Aurora as the company consolidates its operations from China, Mexico and two campuses in Melrose Park, Ill.
Jason West, Sean Henrick and Michael Magliano of Cushman & Wakefield completed the transaction on behalf of the building's owner, Northern Builders, Inc. This is the second building of 300,000 square feet or larger leased by the West team in the last six months. Financial terms of the deal were not disclosed.
The building is located at 2300 White Oak Circle where it is visible from Interstate 88 and easily accessible from the new Eola Road interchange. The building, which features 30-foot ceilings and 35 exterior docks, was developed by Northern Builders for 3M in 1997. It sits on roughly 22.5 acres, a portion of which Peerless will use for a planned 185,000-square-foot expansion at a later date.
Peerless Industries, Inc., has been a leader in the audio-visual mounting industry for more than 40 years, offering a comprehensive line of TV mounts and installation accessories for residential and commercial users. Peerless manufactures more than 3,600 different accessories for televisions, VCRs, LCD and plasma-screen monitors, projectors, speakers and more.
Larry Goldwasser and Jay Maher of the NAI Hiffman Industrial Services Group represented Peerless Industries in the transaction.
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