Molto Properties announced that it has leased nearly 845,000 square feet throughout the Midwest during the second half of 2023.
“We’re extremely proud of the recent leasing activity within our Midwest portfolio,” said Kevin Mohoney, Vice President at Molto Properties. “Executing on scale with a roster of quality corporate users is reflective of our ability to develop highly functional facilities in irreplaceable distribution locations that deliver value to tenants.”
The leases occupied three recently completed speculative industrial buildings within the Chicago and Columbus regions:
- RJW Logistics Group, a leading retail logistics and consolidation provider, signed a full building, long-term lease for 627,602 square feet at Weber55 Logistics Park Building I in Romeoville, IL. Weber55 is currently 70% leased across its two buildings.
- American Metals Supply Company, a major wholesale distributor of sheet and coil steel, entered into a long-term lease for 70,987 square feet at 3188 Toy Road in Obetz, OH. Additionally, AIT Worldwide Logistics, a global third-party logistics company, signed a long-term lease for 82,679 square feet. Collectively, the two leases bring the 260,729 square foot building to 100% occupied.
- J&P Warehousing/Tardella Foods, a food distribution company specializing in grain commodities, entered into a long-term lease for 63,643 square feet at 2250 W 75th Street in Woodridge, IL. The lease brings the 100,871 square foot building to 63% occupied.
About Molto Properties
Molto is a privately held real estate company that is built upon a foundation of respected industry leaders with expertise as both operators and developers of industrial properties. Since its founding in 2008, Molto has acquired or developed nearly 20 million square feet of industrial real estate valued in excess of $1.1 billion with a geographical focus on the Midwest, Texas and California.
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