HSA commercial real estate TO DEVELOP 637,000 SQUARE FOOT INDUSTRIAL PARK ALONG I-355 EXTENSION
March 7, 2006
(Chicago – March 7, 2006) Jack Shaffer, chairman, HSA Commercial Real Estate, announced the firm will develop a 2-building, multi-tenant industrial warehouse facility on 36.95 acres of land the firm acquired in January along Internationale Drive in Woodridge, Illinois. Highly visible and adjoining the I-355 extension at Internationale Parkway, the project will be built in two phases and be named Park 355.
Site work will begin in April and the first phase will consist of a 254,000-square foot multi-tenant building designed to accommodate users ranging from 19,000-square feet to 250,000-square feet. The building will have amenities similar to larger developments, such as extensive docks, drive-in doors, ESFR sprinklers and multiple entrances.
Completion of the 1 st phase is targeted for December, 2006. The 2nd phase will consist of 383,000-square feet and share a common truck court with Building One. The two buildings will be divisible by 8 to 10 tenants per building, constructed of pre-cast concrete and offer great visibility along I-355.
The I-355 extension, locally known as the North-South Tollway, recently received final approval and work has begun to connect I-55 and I-80 in the southwest suburbs of Chicago. “Our project will be completed before the I-355 extension,” commented Shaffer, “but until then tenants will be served by Internationale Parkway, which connects with I-55 about a mile away. This is an excellent location currently and will be even better once the I-355 extension is completed and it will provide many opportunities for very visible signage for our tenants.”
HSA has retained Keith Stauber, SIOR, and Charles Canale of Colliers Bennett Kahnweiler to market this project for lease.
HSA is one of the nation's leading development firms, delivering state-of-the-art industrial properties in multiple markets using an entrepreneurial development model and currently developing nearly 1.5 million square feet of industrial space.
Celebrating more than 25 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 11 states.
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