News
Build-to-Suit Up
November 21, 2011
| It's time to start building again (on a larger scale than your Lincoln Log village), as both The McShane Cos and CenterPoint Properties announced new build-to-suits in the I-55 industrial submarket last week. Almost 750k SF of new space will be completed in the corridor by the middle of next year. | |
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| McShane broke ground on a 362k SF office and distribution center for Edward Don, a large food service supplier, last week. It will include a two-story office portion to serve as the firm's HQ at McShane's new Union Pointe business park. Just north of Internationale Parkway in Woodridge, which completed leasing earlier this year, it's one of the last infill spaces left in the corridor. McShane's Dan Fogarty says that Edward Don considered moving to other states when its lease ended, municipal and county incentives, including a sales tax rebate (coupled with low sales taxes in DuPage County) helped keep it in Illinois. | |
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| Dan tells us the Edward Don building will bring infrastructure into the park, attracting other potential build-to-suit tenants. The park is a JV between McShane and Gallagher Henry. In addition to McShane's new project, CenterPoint Properties announced it's buiding a new 307k SF space for Lawson Products at its McCook business center near 1st Avenue and I-55, joining the Wirtz Beverage facility in Cicero as the three biggest build-to-suits in the last four years. |
