Posted: April 2, 2018
New spec industrial building strategically located at Western Bypass
A joint-venture between Distribution Realty Group and EverWest Real Estate Investors announced its plans to develop an approximately 190,000 square foot speculative industrial building at 220 York Road in Bensenville, Illinois.
Located in DuPage County, the building will feature modern Class A characteristics including 32' clear ceiling heights, LED lighting with motion sensors, attractive storefront glass, up to 37 dock doors, and ample auto parking. The building is designed to appeal to high end warehouse and logistics companies seeking top-tier space in O'Hare.
"The assemblage of 26 parcels on 10 acres adjacent to the Illinois Route 390 and O'Hare International Airport created a best-in-class logistics location," said Curran Darling, DRG's Senior Vice President in Chicago. "From this facility, our customers can take advantage of O'Hare's South Cargo Entrance from a low DuPage County tax location, along with great connectivity to the new Western Bypass which provides immediate access to Chicagoland's interstate system."
"Our firm views Chicago as one of the country's most important logistics hubs," said James Love, Managing Partner of DRG, "and we look forward to adding our 10th facility to the O'Hare submarket."
The venture has hired Sam Durkin and Dominic Carbonari of JLL to market the property for lease on its behalf. Arco Murray will construct the building on behalf of the partnership.
Distribution Realty Group LLC
Distribution Realty Group LLC is a privately owned industrial real estate firm with offices in Chicago and Nashville. The firm has acquired and developed over 3 million square feet of industrial and distribution facilities since its founding in 2013. For more information, please visit www.distributionrealty.com.
EverWest Real Estate Investors
EverWest Real Estate Investors is a real estate investor and operator located in Denver, Colorado. The company was acquired by Great-West Life's real estate advisory platform in February 2018 to help expand their international presence. For more information, please visit www.everwest.com.
Posted: September 22, 2017
Featured Property: Brewster Creek Business Park
Located in the DuPage County portion of the Village of Bartlett, Brewster Creek Business Park is a former gravel quarry turned growing business park developed through a partnership between the Village of Bartlett and Elmhurst-Chicago Stone Company.
Currently home to 90 businesses many of which reside within industrial condominium units in addition to the free-standing buildings, Brewster Creek will have 40 buildings totaling four million square feet with the recent completion of two more in recent months.
Industrial real estate developers Exeter Property Group, Ridge Development and G4 Development have recently completed speculative buildings, and Village economic development staff is partnering with the brokers in an effort to attract more quality tenants to Brewster Creek.
Emerging Food Cluster
Food giant Greco & Sons was the first major food distributor to locate in Brewster Creek Business Park, followed by Get Fresh Produce, Rana Meal Solutions, Cheese Merchants of America and candy packager creative werks in the following years. Thermo Fisher Scientific tests food safety in their Brewster Creek location. Each of these companies found Brewster Creek’s available reasonably priced land, DuPage County taxes, access to a strong workforce and proximity to State highways ideal for their Chicago area location.
Together, these businesses employ well over 1,000 and provide high-quality food products to many restaurants, grocery stores and other clients throughout the Midwest and the country.
German High-Tech Precision Cluster
Bartlett’s pro-business attitude has also attracted several high-precision German-based advanced manufacturers including Herrmann Ultrasonics, Wittenstein, Bremskerl and BBS Automation in recent years. With a newly formed relationship with the German-American Chamber of Commerce, Bartlett has welcomed these companies with open arms in a continuing effort to strengthen the Village’s tax base and increase foreign direct investment in DuPage County.
Midwest Molding, Bremskerl, Winhere Brake Parts and Auto Truck are four Brewster Creek businesses in the auto supply chain. With Winhere Brake Parts relocating to Bartlett in early 2017, these companies have found their Bartlett location ideal to attract and retain a high quality workforce thanks to local workforce development programs.
Another competitive advantage of Brewster Creek is that innovative businesses have found the Bartlett area’s talented workforce to possess the training, education and skills to help their companies grow and prosper. The Village has partnered with local workforce development organizations including the Chicago Cook Workforce Partnership, Elgin Community College’s Workforce Development program and the recently-launched Workforce Development Center in neighboring Hanover Park.
Village Staff assists companies with meeting with one or more workforce development partners to help facilitate the recruiting and hiring of the workers whether entry-level, technically skilled or management professionals.
Open to the Public
You can board your dog, bring your pet to the veterinarian, learn self-defense and improve your fitness in Brewster Creek Business Park. Although most of the 90 businesses in Brewster Creek Business Park are wholesalers, contractor offices, manufacturers and other B-to-B businesses, Bark Avenue Daycamp, Bartlett Animal Hospital, Xtreme Training Academy and Frontier Fitness are open to the public in Bartlett’s premier business park.
Brewster Creek Business Park List
The list of businesses located in Brewster Creek continues to grow year after year, and should continue to expand in 2017 and beyond as the Chicago area industrial market continues growing. From a logistics and distribution standpoint, Brewster Creek is ideally positioned for growing companies to serve their customers more efficiently while enjoying an attractive and safe setting for their employees, customers and vendors.
New Buildings and Available Space
Contact Tony Fradin at (630) 837-0800 or email@example.com to discuss how your client or your own business can become part of this strong and diverse business park or for a personal tour of Brewster Creek Business Park.
Posted: July 27, 2016
Spec Office Development Returns to Oak Brook
The building at 2100 Swift will have a new look, and many significant changes, including a set of windows that will allow natural light to flood the space.
The office market in Oak Brook took a big hit with the announcement by fast food giant McDonald’s that it planned to move its global headquarters into downtown Chicago. But some developers are still quite bullish on the prospects for luring tenants into new space in the west suburban town.
Schaumburg-based REM Builders recently began a 60,000 SF speculative office redevelopment at 2100 Swift Rd. in Oak Brook that involves stripping the existing three story building down to the columns and completely rebuilding it to class A quality. CBRE has been retained to market the property, which REM plans to deliver in late 2016.
“Oak Brook is probably the most mature part of the I-88 corridor,” Jeffrey Mann, senior vice president at CBRE, tells GlobeSt.com, with its multi-tenant buildings having an average age of about 38 years. But today’s tenants are most eager to occupy new office space that incorporates the latest thinking on interior design and how that impacts employees’ quality of life. “There is a real niche in this market for buildings that have a new, fresh feel and for all intents and purposes, this is a new construction delivery.”
Tenants at the renovated 2100 Swift will find a set of offices modeled on the product now found in Chicago submarkets such as the West Loop and Fulton market, says Pete Adamo, senior vice president at of CBRE, who along with Mann will market the property. “We think suburban tenants want that as well.”
“The building has been stripped down to the slabs and will be entirely reconstructed,” he adds. And the developer will replace all of the vital building systems, upgrade all of the interiors and exteriors and deliver all of the standard amenities for today’s office users. That includes designing open offices that users can turn into the collaborative spaces most desired by the millennial generation, and greatly expanded windows that will flood the interiors with natural light.
This is not an entirely new strategy for Oak Brook developers. As reported in GlobeSt.com, in 2014 Golub & Co. and its partner Alcion Ventures bought Oak Brook Executive Plaza, a 1970's-era office complex on W. 22nd St., and have transformed it into Oak Brook 22. However, that 389,000square-foot development “has not been renovated to the extent that 2100 will be,” says Adamo. In that respect, “2100 will be unique.”
The parking structure at 2100 Swift is also unique for the suburbs as the four-level parking deck allows for six spaces per 1,000 square feet, double the typical suburban setup of three spaces per 1,000 square feet.
“As new workplace strategies have evolved to encourage a more densely populated office environment, the suburbs have often been hindered by parking restrictions,” says Adamo. “That is not the case with this project. It is one of the few buildings in the suburbs that will be able to house a large-scale workforce and still provide the convenience of ample parking. This property will work for any large firm, whether it be technology, consulting, financial or marketing.”Read More →
Posted: July 1, 2016
Luxury rental development breaks ground adjacent to Hamilton Lakes Business Park in Itasca
When you think of luxury rental developments, what do you picture? Modern apartment towers rising from the busy downtowns of major cities, right? That doesn’t have to be the case. The suburbs might not get as much press when it comes to new multifamily projects, but plenty of developers are bringing high-end rental units to suburban communities across the Midwest.
This includes M&R Development, which in late May announced the ground-breaking of The Residences at Hamilton Lakes, a 297-unit luxury rental community in the Chicago-area suburb of Itasca, Illinois. The community, a joint venture between M&R Development, Hamilton Partners and Murphy O’Brien LLC, is expected to be ready for occupancy in the spring of 2017.
The community will include three four-story buildings offering a mix of studio, one-, two- and three-bedroom floor plans. It will also feature more than 7,500 square feet of resort-style amenities. These include an outdoor pool, media room, high-end gym, business center and event space. There’s also a spa, sauna, steam room, pet spa and yoga/pilates studio. “Today’s renters want high-end amenities and finishes found in many downtown developments, but not everyone wants to live in a downtown high-rise,” said Anthony Rossi Sr., president of M&R Development. “This community fills a niche in the market, bringing that same luxurious metropolitan lifestyle to the west suburbs.” Each unit in the rental community will come with nine-foot ceilings, quartz countertops and hardwood floors, amenities typically found in high-end urban apartment developments. Kitchens will come with stainless-steel dishwashers, self-cleaning ovens and frost-free refrigerators. Tony Rossi Jr., executive vice president with M&R Development, said that the company decided about six years ago that the area adjacent to the Hamilton Lakes Business Park in Itasca would be the perfect home for a high-end rental development. That’s because the business park, which includes more than 3 million square feet of office space in addition to restaurants and two hotels, is located right near busy expressways connecting to Chicago. The business park offers plenty of office jobs, too, which will attract future residents of the Residences at Hamilton Lakes, Rossi Jr. said. “For a suburban rental development, you need good employment, good transportation options and close proximity to a commuter train station,” Rossi Jr. said. “We’d like to be right next to the train station, ideally. But not all developments can be right next to one. We are about 1.5 miles away, which is still close. There is also a Pace shuttle bus that goes through the business park. The bus can go through our rental property, too, when it opens to take residents to the train.” Construction crews began pouring concrete for the residences in early June, Rossi Jr. said. The developer says, though, that the Residences at Hamilton Lakes won’t be the last new luxury rental development in the Chicago suburbs. “There was a time, back in 1996 or so, when you saw big 300-unit apartment deals wherever developers could get zoning,” Rossi Jr. said. “You’d see these big multifamily developments in Aurora or Oswego. The last five years, there has been no real suburban rental developments to speak of. That is now starting to change. The tough part is that unless you are near an area with heavy employment or a train station that gives couples the option to have one spouse work downtown and another in the suburbs, you’ll still have a tough time getting these kind of developments financed.”
Written by: Dan Rafter | Real Estate Communications Group | View Original ArticleRead More →
Posted: December 9, 2015
Ownership or Leasing Opportunity Available on Navistar Campus
300,000 - 595,000 square feet is available for sale or lease at 2701 Navistar Drive in Lisle.
The entire southern portion of the Navistar campus offers:
- Flexible occupancy
- 100% decked parking
- Located at I-88 and Naperville Road interchange
- Full branding on building and site
- Completely furnished for 2,100 occupants
- and more
Click here to download the flyer.Read More →