Plans were announced by The Pizzuti Companies and partner, Molto Properties, for a new 274,000 square foot speculative industrial building. It will be located in Aurora, Illinois on Mitchell Road in the I-88 submarket of Chicago with exceptional interstate access per RE Journals.
The structure is designed for both single and multi tenant users on 16 acres. The state-of-the-art building will feature the following:
- 32 foot clear heights
- 52 loading docks
- 49 trailer spaces
- 238 car parking spaces
- LED lighting throughout the warehouse
CBRE first vice president David Prell and senior vice president Jeff Kapcheck are in charge of the leasing for this project. Construction will begin in the early spring of 2019 and delivery is scheduled for the third quarter of 2019.
According to RE Journals, the growth in fresh and organic food products and last mile delivery is causing a huge demand for industrial space in Chicago and across the nation. Chicago has been a central location for food production, warehousing and distribution since the 1800's and continues to attract a diverse range of manufacturers and distribution companies.
Per Colliers International, Chicago's industrial market recorded more than 500 new industrial leases and lease expansions greater than 10,000 square feet in 2018, totaling 32.7 million square feet. This is the greatest annual new leasing volume since 2015 and another indicator that the local industrial market continues to thrive.
Posted by Judy Lamelza