CA Industrial, a division of CA Ventures, has just started construction on CA Elk Grove, a 146,029 square foot warehouse at 550 E. Devon Avenue in Elk Grove Villiage, Illinois. It is located on a 7.1 acre site at the intersection of Devon Avenue and Tonne Road which is about 2.5 miles from the O'Hare International Airport per RE Journals.
The building has the following features:
- 32 foot clear heights
- 18 loading docks
- 125 to 135 foot truck court
- Parking for at least 135 vehicles
Harris Architects Inc. is the designer and Pepper Construction is the general contractor. This is CA's first Chicago area industrial venture since they launched CA Industrial.
"We selected a site in one of the best possible locations for an industrial project in the Chicago metro area. The close proximity to the I-390, I-290 and O'Hare, and the visibility on Devon Avenue, will be a draw for airfreight companies and also higher-image, employee-intensive companies that benefit from the visibility and excellent access to the major interstates and roadway systems. Additionally, Elk Grove Village has been a great partner for this project, allowing us to bring industrial space that will not only benefit future tenants, but also work for community residents and business partners as well."
Executive Vice President of Industrial for CA Ventures | Jim McGill
According to the Daily Herald, the warehouse is being built in an existing retail center and a portion of it will still remain retail.
The building has a flexible layout that can accommodate either single or multi-tenant users.
Per RE Journals, there will be 7,800 square feet remaining of the existing shopping center which will remain as retail. Two of the established businesses will be relocated to a different location in the shopping center.
"The retail that is remaining will be completely renovated with a new facade, a resurfaced parking lot, signage, and a new roof. We view CA Elk Grove as a great amenity to the retail partners locating to this upgraded building, as they will have 100 plus potential new customers during the workday."
Executive Vice President of Industrial for CA Ventures | Jim McGill
Jim McGill stated that the timing is just right for this venture and cited Colliers International's second quarter industrial market report when he noted that the vacancy rate in the O'Hare submarket was at a historic low of 3.62 percent.
Completion is scheduled for the first quarter of 2020. CA Elk Grove is being built on a speculative basis even though some tenants have already expressed interest in the new warehouse.
DataBid is currently reporting on this project - Devon & Tonne Spec Warehouse - Elk Grove Village (0103030619)
