Large parcel acquisition provides much needed supply in the greater O’Hare industrial submarket
CHICAGO–(BUSINESS WIRE)–#acquisition–Logistics Property Company, LLC (LPC), a rapidly growing industrial real estate developer, investor and manager in North America, has received municipal approval to move forward on the development of a 368,000-square-foot, logistics facility located at Algonquin Road and College Drive in Palatine, Ill. for delivery in early 2023.
The 28.5-acre site, known as Palatine 90 Logistics Center, is conveniently located just northwest of Chicago O’Hare International Airport adjacent to the Interstate 90 Interstate 290 interchange.
“Larger infill buildings are in extremely high demand,” said Aaron Martell, Executive Vice President – Central Region at LPC. “We’re grateful to Todd Hendricks and Jeff Provenza for bringing us the site.”
With up to sixty dock positions and seventy trailer stalls, the building offers growing O’Hare users ample flexibility and maneuverability. The access to local and regional infrastructure is unparalleled.
“A 36-foot clear, 368,000-square-foot speculative building in this infill submarket is virtually unheard of. We’re excited to get it leased up,” said Darwin Realty’s Todd Hendricks.
Todd Hendricks and Jeff Provenza of Darwin Realty will represent LPC in leasing the project. Pepper Construction will be the general contractor.
About Logistics Property Co.
Logistics Property Company, LLC (LPC) is an industrial real estate company focused on the acquisition, development, and management of modern logistics properties. The group is led by a diverse management team that averages more than 25 years of experience and has developed more than 54.7 million square feet of logistics buildings since 1995. LPC is headquartered in Chicago with more than 70 employees strategically located across eight offices. Its portfolio currently comprises 50 buildings across 22 million square feet in key logistics markets across North America with an estimated end value of more than $3 billion. For further information, please visit logisticspropco.com and follow @logisticspropco.
Contacts
Jude Fitzgerald
Chief Marketing Officer, Logistics Property Co.
+1 708 667 6972
jfitzgerald@logisticspropco.com