Kennedy Wilson Brokerage completed an 81,600 square-foot, 10-year lease deal on behalf of Continental Paper Grading Company (CPG), an experienced waste paper broker specializing in waste paper management, post-industrial / post-consumer plastics and recyclable metals. CPG relocated from 1623 S. Lumber St., its previous headquarters located near downtown Chicago, to its new location at 7250 Santa Fe Dr. in Hodgkins, Illinois, in late 2020.
Strategy & Results
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 After operating for nearly a century in its main Chicago location, CPG’s antiquated and outdated warehouse space began to fall short of the growing company’s needs. With no external pressure to move or renegotiate an existing lease, CPG and the Kennedy Wilson Brokerage team took the time to identify the ideal facility for the relocation, focusing on those with rail siding, more truck docks and proximity to major highways.
With a focus on client stewardship and real estate consultancy, Kennedy Wilson Brokerage’s Corporate Services team identified CPG’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 Brokerage team reviewed over 300 potential properties before touring CPG through a shortlist of finalists. After nearly 18 months of searching, touring and assessing potential space, CPG selected the facility at 7250 Santa Fe Dr., which was a far superior fit for their long-term growth.