Ridge Acquires 11 Acres in Chicago for Spec Industrial Project
- Mar 01, 2018
Ridge, the industrial development arm of Transwestern Development Co., has acquired 10.5 acres southeast of O’Hare International Airport for a speculative industrial development in Chicago. The company will break ground in mid-2018, with plans to deliver the project by the end of the year.
Located at 9100 W. Belmont Ave. in the neighborhood of Franklin Park, O’Hare Gateway Logistics Center will offer 178,516 square feet, as well as 32-foot clear heights, low Cook County 6b taxes and premier visibility at the corner of Belmont Avenue and River Road. Design of the development is being handled by Harris Architects, while engineering services will be provided by Manhard Consulting. Johnathan Kohn of Colliers International will be the listing agent for the project.
“We are excited for the rare opportunity to deliver modern infill distribution space in an O’Hare submarket that has significant barriers to entry. O’Hare Gateway Logistics Center will efficiently offer small-block modern space to a core segment of the O’Hare market that is perpetually underserved due to incredible land constraints,” said Kevin Mohoney, vice president at Ridge, in prepared remarks. “The O’Hare submarket remains one of the healthiest and most robust markets in Chicago and is consistently one of the top markets in the country. We look forward to executing on this opportunity, which will create a meaningful addition to the submarket and an irreplaceable asset for our equity partner.”
Rendering courtesy of Transwestern