Ground was broken last week by Premier Design + Build Group on a 153,000 square foot speculative warehouse for Sterling Bay. The property is located at 1035 S. Frontage Road in Darien, Illinois and is expected to be completed by November 2019 per RE Journals.
The building will be constructed of precast concrete and steel with 30 foot clear height ceilings. It will feature the following:
- 31 exterior truck doors
- Two drive-in doors
- An ESFR sprinkler system
- Include 161 parking stalls on the nine acre site
The building is designed for maximum flexibility and has extensive frontage on I-55 near Cass Avenue.
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Cornerstone Architects Limited will be handling the architectural design services and SPACECO, Inc. will be doing the civil engineering. Jeffrey Fischer, executive vice president with NAI Hiffman will be handling the marketing for the property.
"In-fill sites of this size and quality, with great visibility on I-55, are very rare. We're excited to deliver this project to the market and we're already seeing strong tenant interest."
Sterling Bay's Director | Mark Barbato
Premier and Sterling Bay were joined at the groundbreaking ceremony by Darien Mayor, Joseph A. Marchese who stated that this facility will bring a lot in terms of advancing the city of Darien.
Per The Real Deal, Sterling Bay has been a prolific in Fulton Market, and has plans for the massive 70 acre Lincoln Yards development along the North Branch of the Chicago River.
In the past year, it has spent some $1.5 billion buying high-profile office properties downtown and has continued to pursue more acquisitions in the past few weeks.
Chicago's industrial real estate market is showing no signs of slowing down, with demand fueled by growing e-commerce helping developers fill a surge in new construction. With net absorption at 3.7 million square feet during the quarter, it was the 28th straight quarter in which demand outstripped new supply.
Developers are expected to deliver some 20 million square feet of industrial space this year, up from 14 million last year but down from a record 24.8 million in 2017.
