Grubb & Ellis Co. recently announced that Fibre-Craft Materials Corp. inked a 10-year, 170,000-square-foot lease in the redeveloped Niles Industrial Center in Niles, Ill.
The value of the transaction was not disclosed.
Fibre-Craft, a maker of creative products and novelties, will take occupancy of the building in September, according to a press statement. The property, located at 6420 Howard St., is just two blocks from Fibre-Craft’s current headquarters, according to a press statement.
The original building, constructed in 1955, was demolished by developers Principal Financial and the Missner Group and replaced by two class A, 200,000-square-foot-plus spec buildings erected in 2004, which feature 30-foot ceiling heights, and 21 docks each building. The Fibre-Craft building also features 30,000-square-feet of office space and will feature eight conference areas.
Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.