First Lease at 350 N. York Road Brings Liberty Property Trust’s New Building to More Than 55% Occupancy
Vicostone USA to relocate warehouse and showroom to new Liberty development near O’Hare
Elk Grove, IL – October 31, 2018 - Vicostone USA has signed a lease for 54,776 square feet of space in Liberty Property Trust’s new 96,962 square foot LEED industrial building at 350 N. York Road in Bensenville, IL. The new tenant will relocate its regional showroom and warehouse operation from its existing Elk Grove Village location by Spring 2019.
“We are very happy to have leased approximately half of our speculative industrial building to Vicostone USA just a few months after completion.” said Neal Driscoll, vice president and market officer for Liberty. “We thank the Village of Bensenville, which has been an outstanding partner, throughout the development process. And, of course, we welcome and thank our new tenant, who saw the value of 350 York for its efficiency, proximity and visibility to O’Hare. We are confident the balance of the building will lease up quickly.”
Vicostone is a manufacturer and distributor of engineered quartz slabs with its global headquarters and factory in Hanoi, Vietnam. The company has locations in Dallas, Atlanta, Houston, Toronto, Montreal and Vancouver with the new facility in Bensenville serving as the distribution center for its’ Midwest USA operations. The new location will provide Vicostone USA ample office and warehouse space as well as give the company the ability to create a modern and custom showroom displaying their full product line. The company was drawn to the building’s location and its large warehouse space, which will help to streamline logistics by allowing for easier fulfillment of slab orders.
Liberty redeveloped the five-acre property, which included razing the existing 60,000 square foot warehouse and replacing it with a new 96,962 square foot building designed to achieve LEED® Silver Certification. The new high-efficiency building features 32’ clear heights, 48’ x 54’ bay spacing, 20 exterior docks, 113 cars and two drive-in doors. The property is only minutes from both the north and south O’Hare cargo entrances.
Matt Neumann, Senior Director of Leasing and Development at Liberty, worked with Dan Leahy of NAI Hiffman who represented Vicostone USA and Steve Stone and Eric Fisher of Cushman Wakefield who represented Liberty.
Liberty Property Trust owns 47 buildings offering approximately 12 million square feet of space in the greater Chicagoland area. Properties are located throughout the O’Hare submarket, I-55 Corridor, the Aurora/I-88 submarket and the Minooka/Elwood/I-80 Corridor, Central DuPage, as well as in Southeastern Wisconsin.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior industrial and office properties. Liberty's 103.5 million square foot portfolio provides productive work environments for 1,200 tenants.
About Vicostone USA
Vicostone is a manufacturer and distributor of quartz-based engineered stone made for kitchen countertops, bathroom vanities and other interior surfaces. It is made with up to 93% natural quartz minerals mixed with safe inorganic binders and resins. Vicostone is manufactured using authentic Bretonstone® technology and is sold in the United States under the brand names Vicostone, PentalQuartz and Pompeii Quartz.
Released October 31, 2018