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NEW YORK CITY-Rockefeller Group Development Corp. and MC Realty Inc. have acquired two development properties as part of a joint-venture agreement. The team expects to invest approximately $130 million to develop the sites. The companies also intend to pursue joint ventures for other potential real estate development projects in the future.

They've acquired an 80-acre industrial site just off Interstate 80 in Minooka, IL and a 40-acre park located in the New Jersey Meadowlands. Both sites will be developed by RGDC. The deal marks the firm's first development in Illinois and a continued concentration on the New Jersey market. A spokesperson for locally based RGDC tells GlobeSt.com that Minooka is a $50-million project and the Meadowlands site is an $80-million effort.

Located near the four-way interchange at Ridge Road and I-80, the Minooka site is zoned and annexed and planned for a nearly 1.4-million-sf, 32-foot clear height distribution facility that is divisible to 300,000 sf. The building is designed for users with flexibility in mind, specifically, up to 387 trailer spots, 313 dock positions and 500-car parking.