UPDATE, May 28, 11:25 a.m.: Bucksbaum Retail Management signed Strive Logistics to a 20,000-square-foot lease at its New City complex in Lincoln Park.
The third-party logistics provider said its planned move from 3008 North Lincoln Avenue in Lakeview in November will allow it to increase its headcount.
Kevin McLennan and David Saad of CBRE represented Strive in the transaction. Jake Ehrenberg and Scott Brandwein of CBRE represented Bucksbaum, which owns the complex in a joint venture with Structured Development.
Strive was founded in 1995, and works works with customers throughout North America.
Structured Development delivered New City in 2015 at 1457 North Halsted Street, boosting efforts to transform the Clybourn Corridor after the demolition of the last of the towers in the Cabrini-Green public housing complex in 2011. The complex features 199 apartments and 360,000 square feet of retail space.
The developer is now turning its attention to the three-acre Shops at Big Deahl nearby at Blackhawk and Kingsbury streets, which will have 150,000 square feet of retail and commercial space alongside a half-acre park. It recently signed Planet Granite to a 40,000-square-foot lease in that complex.
On Tuesday, the Structured Development announced it’s building a new 50,000-square-foot Menomonee Club community center at the Shops at Big Deahl. In exchange, the developer gets the club’s current property at 1535 North Dayton Street, where it plans to build a nine-story, 197-unit apartment building.
This story has been updated to clarify the ownership of New City.