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ROMEOVILLE, IL-Buoyed by its current success in the I-55 submarket, ProLogis is building a 750,000-sf distribution building in its 44-acre ProLogis Park 55. Meanwhile, Chicago-based HSA Commercial Real Estate plans a two-building, 637,000-sf warehouse project on 37 acres along Internationale Drive in nearby Woodridge, near the proposed I-355 connection with I-55 and I-80.
ProLogis' building, near the I-55 interchange at Weber Road, could be expanded to one million sf. "During the past year, we have seen occupancy of our existing inventory in this submarket reach 92%," says ProLogis senior vice president Dave Riefe, who oversees the Denver-based company's Chicago-area operations. That includes a 20-million-sf portfolio, with nine million sf in the I-55 and I-80 area.
HSA Commercial Real Estate's Park 355 will include a 254,000-sf multi-tenant building to be completed by December. "This is an excellent location currently and will be even better once the I-355 extension is completed," says HSA Commercial Real Estate chairman Jack Shaffer.
"We believe the time is right to introduce new inventory product, given our customers' continuing need for state-of-the-art buildings that can help increase the efficiency of their logistics operations," ProLogis' Riefe adds. "With its expansion capabilities, our new building will offer more potential aggregate space than any other available in the I-55 submarket."
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