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Rockefeller Group, MC Realty Take Development Properties

NEW YORK CITY-A joint venture of locally based Rockefeller Group and MC Realty of Los Angeles acquires two industrial development sites. The team plans to invest an aggregate of $130 million on the properties.

By Barbara Jarvie | Updated on February 01, 2006

(To read more on the industrial market, click here.)

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.

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