CHICAGO—The Missner Group has just completed a $35 million improvement and repurposing project for Peacock Engineering Co. at 1001 W. Crossroads Parkway in suburban Romeoville. The company, which specializes in the primary processing and packaging of refrigerated, frozen and other foods, leased the 532,560-square-foot space last year, the second largest industrial lease in the I-55 corridor during 2013.
“The extensive project included a demolition of existing interior space to reconfigure the facility for an entirely new use,” says Barry Missner, president of Missner. “The construction of a food processing facility requires a substantial knowledge of the systems needed to process food safely as well as the various rules and regulations of the USDA. Our team, well-versed in this type of construction, assembled a strong team of experts and coordinated the process to ensure an efficient completion of the specialized space.”
Located within Prologis Park 55, Peacock will use the facility to repackage frozen goods. This will require the company to control the temperature of portions of the building to specific degrees. Missner did a complete renovation of the existing warehouse, and added 20,000-square-feet of office space, new processing areas and production lines and temperature-controlled storage spaces. The property features 113,907-square-feet of refrigeration and freezer space and a 90,814-square-foot production area.
Peacock's lease and move-in helped drive a healthy level of leasing in the I-55 corridor. Tenants took 5.7-million-square-feet in 2013, after leasing 5.8-million-square-feet the previous year, according to 2013 data from Colliers. “The I-55 Corridor's vacancy rate shot up to 11.12% in the first quarter but was able to stabilize throughout the year, ending the fourth quarter at 9.83%.”
“We selected The Missner Group for their experience in the food processing industry,” says Jim Olegarski from Peacock. “The team understands the construction challenges and essential details of a food-grade facility. We are confident in our choice of this expert team, especially given that this project, which was no small feat, required an expedited schedule.”
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