CenterPoint Properties Breaks Ground on O’Hare Market Industrial Facilities
Posted By Staff Writers On October 16, 2017 @ 11:25 am
OAK BROOK, IL – CenterPoint Properties is proud to announce the groundbreaking and start of construction of the CenterPoint Logistics Center – O’Hare. The two speculative warehouse facilities, totaling approximately 560,000 SF, are being developed on a 33-acre parcel. The site is uniquely located on the southern edge of Chicago’s mature and logistically advantaged O’Hare industrial submarket.
The two new buildings, CenterPoint O’Hare 1 and CenterPoint O’Hare 2, are 225,891 and 333,696 SF, respectively. The facilities are the largest construction projects in 2017 in the O’Hare submarket. Located at 10601-10701 Seymour Avenue in Franklin Park, these facilities offer a rare opportunity for tenants valuing modern features and convenient access. The buildings are also near the O’Hare Airport South Cargo gate. A new, signalized intersection at Seymour Avenue and Irving Park Road allows easy access to I-294 via Mannheim Road. Additionally, the new buildings are 30 minutes from downtown Chicago.
“We continue to see exceptional demand in the O’Hare submarket,” said Ed Harrington, Senior Vice President of Development at CenterPoint Properties. “With unprecedented access to Chicago’s entire transportation network, we anticipate users will be attracted to an opportunity to locate their business in a new and modern facility situated with superior transportation options.”
CenterPoint has named Jim Estus, SIOR, of Colliers International, to market the CenterPoint Logistics Center – O’Hare. “Because of the proximity to the airport and other transportation options, the O’Hare market historically is one of the strongest markets in Chicago,” Estus said. “With the general lack of new product available in the marketplace, CenterPoint Logistics Center – O’Hare is well-timed to meet the ongoing needs of users.”
Modern amenities at CenterPoint O’Hare 1, the 225,891 SF building, include 32’ clear-height, 50 exterior docks and trailer parking for 68. The 333,696 SF CenterPoint O’Hare 2 building offers 36’ clear-height, 92 exterior docks and trailer parking for 76.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The Company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 59 Million SF and 2,519 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.
About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.