Search
 

Wanxiang and Clarius Readying Pilsen Spec

CHICAGO—The new development in Pilsen should help replace the food distribution space disappearing from the Near West Side.

By Brian J. Rogal | Updated on March 17, 2014

CHICAGO—Google’s plan to move into the Fulton Market area has already begun transforming that neighborhood, long the center of food storage operations. These older businesses around Google’s future home may no longer fit into the neighborhood’s new high-tech vibe, and developers have cast their eyes on a number of properties several miles outside the Loop as they look to provide alternatives.

The Wanxiang America Real Estate Group and Clarius Partners, LLC, for example, recently acquired the former APL Logistics facility at 2302 S. Paulina in Chicago for $6.6 million and plan to build, on a speculative basis, a 162,000-square-foot warehouse building targeted at food distributors. The partners plan to demolish the existing building and eventually develop up to 400,000-square-feet in three major buildings on the 22.68-acre site, dubbed Pilsen Park Chicago.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.