Jack Shaffer, chairman of Chicago-based HSA Commercial Real Estate, today announced the firm will develop a 152,122-square-foot speculative warehouse at 2141 Internationale Parkway in Woodridge, Ill. HSA Commercial will break ground this month on the new Class A distribution center building, the third and final phase in the highly successful Park 355 development, which will encompass more than 500,000 square feet when construction is completed on Phase III in March 2017.
Located at the southwest quadrant of Interstate 355 and Internationale Parkway, the new 152,122-square-foot building will include 30-foot clear heights, three drive-in doors and 15 truck docks, with the ability to construct an additional 15 docks based on tenant requirements. The freeway-visible Phase III will be able to accommodate users requiring as little as 36,000 square feet, making it one of the only newly constructed Class A options available for smaller tenants in the Interstate 55 corridor.
“With the strong lease-up of our previous two buildings at Park 355 and the continued demand for high-clear, Class A industrial space—particularly among smaller users—the timing for this project is ideal,” said Robert Smietana, vice chairman and CEO of HSA Commercial. “Although this building is being developed on spec, the leasing interest has been so strong that it would not be a surprise to have a sizeable portion of the building pre-leased before construction is complete.”
HSA Commercial began developing the 37-acre Park 355 complex – located near the junction of I-55 and I-355 – in 2006. The project’s first phase consisted of a 254,453-square-foot distribution center that is leased to national logistics and manufacturing tenants including Ace Hardware and Tricor Braun. The project’s second phase, a 180,480-square-foot speculative industrial facility, was completed in 2014 and is now nearly fully leased.
Tim Thompson, executive vice president and managing director of the Industrial Services Group at HSA Commercial, is responsible for project leasing. Cornerstone Architects Ltd. designed the new distribution center, and Morgan / Harbour Construction will serve as the project’s general contractor.
For leasing information, please contact:
HSA Commercial Real Estate