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ML Realty Fills Up Big Lockport Spec

CHICAGO—This was one of the larger specs recently built in the Chicago area, and filling it relatively quickly should give other developers increased confidence in the market.

By Brian J. Rogal | brianjrogal | | Updated on March 11, 2016

 

chi-14908S.GougarRd_hccc3 (2) 14908 South Gougar Rd. in Lockport was finished last year and already has one tenant to fill it completely.
CHICAGO—In another big boost for the Chicago-area industrial market, one of the larger speculative projects of the past few years has been 100% filled. ML Realty Partners LLC , a developer based in suburban Itasca, has just leased its new 512,265 square foot distribution facility at 14908 South Gougar Rd. in Lockport’s Heritage Crossing Corporate Center to RJW Logistics .  Much of the I-55 Corridor submarket is too dense to launch projects of this size, but ML Realty officials told GlobeSt.com that this portion near I-355 and 143 rd St. allows developers to amass large pieces of property that can host a diverse range of building types. 14908 S. Gougar Rd. is one of twelve planned buildings varying in sizes from 60,000 square feet to 512,265 square feet at the 228-acre park. Many of the buildings in the area are older and have relatively low ceiling heights, but RJW Logistics will enjoy 32′ clear ceilings. The building was completed in the second quarter of last year, making it a relatively quick lease up.   Dominic Carbonari of JLL represented RJW Logistics, and Dan Leahy , Mark Moran , and John Whitehead of NAI Hiffman represented ML Realty in the transaction. “Visibility along I-355 within a park setting was among the reasons RJW chose this location for our growth,” says Kevin Williamson , president of RJW Logistics. “This well-designed building positions us for serving our customers well.” “We are pleased to welcome RJW Logistics to Heritage Crossing Corporate Center,” says  Patrick J. Shannon , vice president of ML Realty. “As companies continue to select Heritage Crossing Corporate Center, we are excited about the opportunity in our park to develop more buildings in the coming year.”

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