Panattoni in lease negotiations on new building at Silver Lake

Panattoni Development Co. is negotiating with a potential tenant for a portion of the 429,000-square-foot building it recently started at the Lear Industrial Center.

The building is the third to be constructed at the Lear Industrial Center in the Silver Lake area of Stead.

Panattoni Construction Inc. is building the project. Tectonics Design Group is the architect.

Panattoni's Paul Kinne said the 429,000-square-foot building can be divided into spaces as small as 48,750 square feet. He said details of the current negotiations can't be disclosed.

When complete, the Lear Industrial Center is planned to total approximately 1.4 million square foot. One more building, a 390,000-square-foot structure, remains to be built, Kinne said.

The current project is scheduled for completion in June.

Alliance Commercial holds the leasing contract on the building.