The property services division of Kennedy Wilson, a global real estate investment and services company, has completed an 81,600 square-foot lease deal on behalf of Continental Paper Grading Company (CPG), an experienced waste paper broker specializing in waste paper management, post-industrial and post-consumer plastics and recyclable metals. The relocation of the company’s headquarters in Chicago represents Kennedy Wilson’s first deal on behalf of CPG.
Continental Paper Grading will move from 1623 S. Lumber Street, its current property located near downtown Chicago, to its new location at 7250 Santa Fe Drive in Hodgkins, Illinois, in late 2020. The term of the new lease is 10 years. CPG was represented by Kennedy Wilson’s Executive Vice President Jeremy Dee, Senior Managing Director Dan Schmidt and Vice President David Pressberg.
“Continental Paper Grading Company has spent nearly 100 years at its Chicago headquarters and our team was delighted to assist them in this significant relocation which will better support the needs of their business,” said Executive Vice President of Corporate Services Jeremy Dee. “After nearly 18 months of searching, touring and assessing potential space, we are proud to see our client move to a facility which is a far superior fit for their long-term growth.”
Founded in 1919, Continental Paper Grading is one of the largest independent waste paper buyers in the U.S., Canada, and Mexico with offices, plants and warehousing facilities throughout North America. After operating for nearly a century in its main Chicago location, CPG’s antiquated and outdated warehouse space began to fall short of the company’s present needs. With no external pressure to move or renegotiate an existing lease, CPG and the Kennedy Wilson team took about a year and a half to identify the ideal facility for their relocation.
“As our company has grown tremendously, we sought a location with rail siding, more truck docks and proximity to major highways. The team at Kennedy Wilson never wasted our time showing us locations that didn’t meet our criteria – they were incredibly thorough and a trusted partner that guided us through every step of the process,” said Gary Schultz, Senior Vice President of Sales at Continental Paper Grading. “Leasing a building and making a move this monumental is not something we do every day. We’re thrilled with the caliber of services that Kennedy Wilson provided throughout our transition as we prepare to enter this new chapter for our company.”
With a focus on client stewardship and real estate consultancy, Kennedy Wilson’s corporate services team, led by Jeremy Dee, identified Continental Paper Grading’s operational needs prior to presenting potential real estate. CPG had extremely specific requirements for their new industrial space, including rail service, plenty of large trailer parking, a dramatically increased ceiling height, expanded office space, and greater power load. Ultimately, the Kennedy Wilson team reviewed over 300 potential properties before touring CPG through a short list of finalists which included 7250 Santa Fe Drive.
As a leader in corporate real estate solutions, Kennedy Wilson applies proven expertise and creativity on behalf of clients across the country, successfully shepherding deals from concept to conclusion and beyond. The Kennedy Wilson Corporate Services team serves tenants exclusively, acting as the single point of contact with full accountability to the client alone. Whether a client requires one large site or a mix of smaller transactions, they receive customized service, tailored to the clients' business operation, from Kennedy Wilson.
For more information on Kennedy Wilson’s corporate real estate team, visit www.kennedywilson.com/corporate-services.
About Kennedy Wilson Brokerage
Kennedy Wilson (NYSE:KW) is a leader in the leasing and sales of commercial property, representing institutional and private capital landlords and tenants. Kennedy Wilson’s team of brokers understands the strengths and challenges of owning, operating and developing retail, office, multifamily, mixed-use, industrial, and specialty properties. Its marketing programs combine proven techniques with detailed market knowledge to create optimum results. For further information on Kennedy Wilson Brokerage, please visit: www.kennedywilson.com/brokerage.
Michael Altneu | Alyssa Lawrence | Martha Dickerson