February 2025
NAI Hiffman brokers long-term lease in Carol Stream with zero days of vacancy for building ownership
NAI Hiffman brokered a long-term lease at 220 Westgate Drive in Carol Stream, Illinois, with zero days of vacancy for building ownership.
The brokerage team of Executive Vice Presidents Kelly Disser and Mike Freitag, along with Senior Associate Bill Byrne and Associate Broker TJ Feeney, represented the landlord in the transaction.
This deal is the second time in four years the Disser team successfully executed a lease at 220 Westgate, with a combined total of less than five days of vacancy.
“Every time our team is retained by a real estate owner to lease or sell an industrial asset, our objective is to have zero downtime, maximizing rental revenue,” said Disser. “This was another successful project for our team. Each assignment is an opportunity to do something that others can’t, so we pursue the challenge. We love the industrial outdoor storage market because of its overlooked strategic advantages including high barriers to entry, ‘sticky’ tenants and resilient cash flow.”
NAI Hiffman created a competitive leasing environment by focusing marketing efforts around the property’s desirable Carol Stream address and functional design. As a result, the asset had multiple interested occupiers seeking a long-term lease. The property went on the market 12 months before lease expiration and found a new tenant before the prior term was up, resulting in a lease buyout and zero effective vacancy for building ownership. The new tenant declined to be identified.
The 1.72-acre site includes an 18,800-square-foot building with approximately 4,000 square feet of office space including a second-floor conference room. The structure offers an 18-foot clear height with one truck door and two 14-foot drive-in doors, along with a fully paved, fenced and secure yard.
About NAI Hiffman:
NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is an award winning company headquartered in suburban Chicago, with more than 250 employees strategically located throughout North America.
About Hiffman National:
Hiffman National is one of the US’s largest independent commercial real estate property management and advisory firms, providing institutional and private clients exceptional customized solutions for property management, facility management, advisory services, accounting, lease administration, lender services, project management, marketing, and research. The firm’s comprehensive property management platform and attentive approach to service contribute to successful life-long relationships and client satisfaction. As a nationally bestowed Top Workplace, and recognized CRE award winner, Hiffman National is headquartered in suburban Chicago, with more than 250 employees nationally and an additional four hub locations and 15 satellite offices across North America.
