Fit Story
Finding the perfect fit for CIT's rapidly growing business
CLIENT PROFILE
- Founded in 1975
- Servicing the trucking industry with truck sales, parts sales, and truck maintenance.
- Employs a workforce exceeding 800 individuals, with over fifteen locations across the Midwest.
REAL ESTATE FIT GOALS
- High quality image and visibility.
- The zoning and municipality that would welcome their use.
- Large site that could handle the maneuvering and staging of both new and used trucks.
The Challenge
Finding the ideal location proved challenging as there was no “perfect fit” readily available. The O’Hare industrial submarket has consistently maintained historically low vacancy rates in recent years, making it exceptionally tough to secure even fundamental distribution and manufacturing space. With the added requirements of accommodating truck repair services and a substantial number of truck parking spots, the available inventory became even scarcer and more fiercely competitive. Any existing facilities that could potentially be retrofitted would demand a substantial capital investment.
The Solution
In 2019, CIT Trucks partnered with Bespoke to expand their Bensenville parts sales operations from approximately 10,000 sq ft to around 60,000 sq ft. Subsequently, discussions commenced regarding further ventures into truck sales and maintenance. Leveraging their connections in the marketplace, Bespoke assessed both on-market and off-market opportunities. The decision to pursue the Wood Dale site was influenced by its size, configuration, and the City’s eagerness and cooperation in collaborating with CIT Trucks.
The Outcome
After zeroing in on a 115,000 sq ft facility in Wood Dale, Bespoke successfully negotiated a financially favorable, long-term lease that would enable CIT Trucks to maximize profitability at the site. Following a rigorous and protracted process lasting four months and involving three village hall meetings, we obtained approval for multiple Special Use Permits and Code Variances from the City of Wood Dale. Furthermore, in compliance with stormwater regulations, Bespoke aided in securing significant TIF funds from the city.
“Thanks to Pete Billmeyer and Bill Lussow, we now have a fantastic new warehouse that meets all our needs and positions us for future success. I highly recommend their services to any business seeking top-notch commercial real estate expertise. They are a great team to work with!”