CHICAGO—Saddle Creek Logistics has decided to lease a new 1,114,575 square-foot build-to-suit distribution facility that sits on 60 acres at CenterPoint Intermodal Center in suburban Joliet. The transaction is the largest industrial transaction and build-to-suit year-to-date in the Midwest region of the US, according to officials from Newmark Grubb Knight Frank, which represented Saddle Creek in the relocation.
The deal is also “the second largest industrial transaction in the US so far in 2015,” Geoffrey Kasselman, executive managing director and head of NGKF's national industrial practice, tells GlobeSt.com. “In fact, the deal is not only representative of a robust market, but also of Chicago's strategic importance as a regional and national hub for the distribution and logistics industry.”
Saddle Creek, a third-party logistics company, will relocate to CIC from a 590,000 square-foot facility at 21051 W. Walter Strawn Dr. in Elwood, IL, nearly doubling their space. It plans to move by February, 2016.
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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.
