Cush & Wake Tapped to Market Chicago Industrial Park
- May 24, 2017
Northern Builders Inc., the developer of the upcoming Cherry Hill Business Park, a 500-acre project in Joliet and New Lenox, Ill. selected Cushman and Wakefield to market the asset. The team of agents includes Senior Director Jason West, Directors Doug Pilcher and Sean Henrick and Associate Director Michael Magliano.
The firm is now marketing two buildings, part of a two-phase speculative investment. The first, Cherry Hill 14, is a 171,394-square-foot facility located at 2401 W. Haven Ave., New Lenox, Ill., just off Interstate 80. Upon completion, later this year, the 9-acre site will feature 32-foot clear height, 36 loading docks and approximately 86 trailer parking stalls. The second property will offer 202,582 square feet of space and the same specifications as the first one. It will also include a heavy trailer parking.
“This world-class business park already has attracted household-name tenants like Michaels, Navistar, Centrella, Commscope and Hickory Farms,” said Henrick, in prepared remarks. “With two full interchanges located less than two miles from the park, it is arguably the best-located major development site for regional and super-regional distribution in the greater Chicago market. It is one of the only regional land sites that can satisfy a 1.5 million-square-foot requirement.”
The industrial park is designed to accommodate approximately 5.4 million square feet of industrial space, translating into 15 pad-ready, build-to-suit sites that can take in between 30,000 square feet and 1.5 million square feet. The facility is located between Interstates 55 and 57 and also offers immediate access to Interstates 355 and 80, as well as direct rail service via the Canadian National Railroad.
“Our vision was to create a true business park environment with its own identity in lieu of constructing one-off buildings in an industrial-zoned area. We have developed a professional business community with exceptional park amenities,” said Matthew Grusecki, senior vice president with Northern Builders, in a prepared statement.
Cushman & Wakefield has recently facilitated the record sale of Colonial Center at TownPark, an office park in Lake Mary, Fla.
Image courtesy of Northern Builders Inc.