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Duke Starts 140,000 SF of Spec Office Space

CHICAGO-Within weeks, ground breaks for a 40,000-sf building at Duke Crossings at Cantera and a 100,000-sf office facility at Conway Park.

By Marita Thomas | Updated on October 03, 2006

CHICAGO-Duke Realty Corp. has broken ground for a 40,000-sf spec office building at Duke Crossing at Cantera, the Indianapolis-based company’s 19-acre, mixed-use development in suburban Warrenville. Within weeks, it will also begin construction of a 100,000-sf spec office building at Conway Park in Lake Forest.

The two-story Crossings 1 will be Duke’s first spec project at Cantera where it recently completed the regional headquarters of Paragon Global Resources. Duke Crossings can accommodate up to 500,000 sf. Steve Schnur, Duke’s SVP, tells GlobeSt.com the all-in cost of Crossings 1, including the land, is approximately $8 million.

It is located along Bella Vista Parkway at the intersection of Interstate 88 and Mill Street and is expected to reach completion in May 2007. Duke is offering it for sale or lease. Schnur says the asking rent rate is $16 per sf net. “There is no asking sale price,” he adds.

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