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Land Nears Finish for Empty 506,800-SF Site

ROMEOVILLE, IL-The $17-million warehouse is expected to deliver by February, while developers have so far been unsuccessful in securing tenants for the spec building.

By Cari Brokamp | Updated on December 08, 2008

ROMEOVILLE, IL-A 506,800-square-foot speculative industrial facility in Lakes Bluff Point Business Park is expected to be complete by February. The $17 million Bluff Point Three will be at the southeast corner of Joliet and Bluff roads. As completion nears for the building, developer Land and Lakes Development Co. continues to seek one to four tenants to fill the space.

“Right now, there isn’t a whole lot of interest or demand in that area,” says Peter Stadler, VP with Meridian Design Build, the project’s general contractor. “It seems there’s a lot of vacancies out there and not a lot of prospects to fill. It’s typical of what the economy has brought everywhere in the last six-to-nine months.”

The building offers four drive-in-doors, a 30-foot clear height, an ESFR Sprinkler System and provisions for up to 168 exterior docks with ample trailer parking. The building is in the west suburban submarket, which developers thought would have great demand for this type of property when its planning began more than a year ago and construction started in spring, Stadler says.

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