HSA Commercial and its project partner Great Point Investors LLC joined Premier Design + Build in celebrating the official groundbreaking of a 218,500 square-foot speculative warehouse facility located in the Delany Commerce Center at 2431 Delany Road in Waukegan, Illinois. Premier Design + Build Group was selected by HSA and Boston-based Great Point Investors LLC to carry out all segments of the construction process for the northern Waukegan development where development is now underway.
HSA and Great Point decided that now is the optimal time to move forward with construction, as vacancy rates are decreasing and the need for industrial space is on the rise in Lake County’s industrial real estate market. The area has not seen any development for some time as a result of the economy; however, evidence of growth has made this high-quality facility a possibility. The opportunity now exists for manufacturers, pharmaceutical companies and technology industries to move into the resurgent submarket of Chicago.
The new warehouse will sit at the southeast corner of Delany and Blanchard roads and cover approximately 25 acres of land. Interior fire protection for the 30’ clear ceiling will be provided for by an ESFR (early suppression, fast response) sprinkler system. The exterior will provide 28 expandable exterior docks and 4 expandable drive-in doors. The exterior of the warehouse will be comprised of load bearing Precast and glass storefront.
A new parking lot will be constructed, allowing for 310 automobile parking spaces and designated trailer parking as well. A traffic light on the recently widened Delany Road will grant access to the new facility, which is easily accessible from Interstate 94 and Highway 41.
Anticipated completion for the project is in the fourth quarter of 2013. The new facility will be capable of housing up to 7 tenants.
Michael Caprile, Vice Chairman, and Steve Roth, Executive Vice President, of CBRE (both pictured above) secured Great Point Investors for the joint venture with HSA. Harris Architects, Inc is delivering architectural services, and Manhard Consulting LTD is the Civil Engineer. Tim Thompson, SIOR, of HSA Commercial is responsible for project leasing.