CHICAGO—A rebound in rental rates has triggered the launch of several speculative industrial projects southwest of the city of Chicago, and KTR Capital Partners and the Missner Group are the latest companies to dip their toes in the water. The Skokie-based Missner just started construction on a new 150,000-square-foot, design-build warehouse in suburban Aurora on property owned by KTR.
The new precast and steel structure will sit at Diehl Rd. and McKesson Wy. in the White Oak Business Park and offer immediate access to I-88 via the Eola Rd. four-way interchange. Upon completion the building will feature a 30' clear height, 16 exterior docks, four drive-in doors and 35,000 pound levelers. It will also offer 24-trailer parking positions and parking for 181 vehicles.
Missner has recently been quite active in the region. As reported in GlobeSt.com, the developer recently put the finishing touches on the $35 million repurposing of a 532,560-square-foot industrial building at 1001 W. Crossroads Parkway in suburban Romeoville for Peacock Engineering Co., a specialist in food packaging. Located in Prologis Park 55, it was the second largest industrial lease in the I-55 corridor during 2013.
Barry Missner, the president of Missner, is leading the Aurora development. Executive vice president Glen Missner is managing construction, and Curt Burns and Gary Bertoncini head up the project and field teams. Harris Architects is providing architectural services and V3 is the civil engineer.
The builders will complete the project in fall 2014. The building is divisible down to 20,000-square-feet and can accommodate up to four tenants with office space available to-suit. Brian Kling and Reed Adler of Colliers International are marketing the property on behalf of the owners.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
