I0 Falcon Court in Streamwood, IL.
CHICAGO—The Opus Group and USAA Real Estate have just signed a lease with Expeditors International, a logistics company, that will bring their 423,726-square-foot industrial warehouse at 10 Falcon Crt. in suburban Streamwood to full occupancy.
The deal shows that for all the attention paid to I-80 and I-55, demand for industrial space is strong over much of the Chicago region.
“Our research indicates that there continues to be a shortage of class A bulk space in the core submarkets,” Mike Yungerman, vice president, general manager, Opus Development Co., LLC, tells GlobeSt.com. “For example, in the Central DuPage submarket there is only one space available over 300,000 square feet and several requirements looking in that size range.”
Situated on 35 acres of land near the Elgin O'Hare Expressway, Opus' building has convenient access to I-390, I-355 and I-294 and to O'Hare International Airport. It will feature 32' clear height, 48 exterior truck docks, up to 55 trailer parking stalls and 193 parking spaces. The company plans to complete the buildout by this fall.
“Opus continues to be bullish throughout most Chicago industrial submarkets for speculative product,” Yungerman adds. “The biggest constraint toward moving forward on a new project is land availability.”
Opus' recent portfolio of work includes more than 6.9 million square feet of industrial developments currently under construction or completed in the past 24 months across the US. Opus also worked with USAA Real Estate on the I-88 Gateway Logistics Center located in North Aurora, IL.
Opus Design Build, LLC was the design-builder for this development and will complete the build out for Expeditors International. Opus AE Group, LLC was the architect and engineer of record while a joint venture between Opus Development Co. and USAA Real Estate own the building. Doug Pilcher, Jason West and Sean Henrick represented the tenant in leasing the space. David Prell and Kevin Segerson of CBRE represented the landlord.
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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.
