CHICAGO—The relatively small Elgin/I-90 Corridor industrial submarket just got a bit more interesting. Conor Commercial Real Estate, a member of The McShane Cos., and its joint venture partner, Globe Corp. have finished Northwest Pointe, the metro area’s latest industrial spec facility. The new 342,620-square-foot building sits within Elgin’s Northwest Corporate Park andtenants can occupy it immediately.
Interest in the submarket seems to have picked up recently. In October, GlobeSt.com reported that DCT Industrial Trust Inc. had decided to greatly expand their Chicago-area portfolio by purchasing a six-building industrial portfolio with about 1.1-million-square-feet at the Fox River Business Center in Elgin.
Conor and Globe designed their new class A industrial facility to offer single- or multi-tenant suites ranging in size from 70,000- to 342,000-square-feet. Northwest Pointe has cross-dock or single load configuration with a 32′ clear height and office space. Furthermore, the partners equipped it with 68 exterior truck docks, four drive-in doors and parking for 343 cars with on-site trailer parking.
“We are confident that this class A property will benefit users by providing high-quality industrial distribution/warehouse space to maximize business operations, together with the advantages of the site’s location within the Northwest Corporate Park, and competitive lease rates within the I-90 corridor market,” says Daniel E. Fogarty Jr., vice president of Conor.
Kenneth P. Franzese, principal, and John T. Cassidy, principal, of the suburban Rosemont office of Lee & Associates represented the Conor/Globe venture in the acquisition and also serve as the marketing agents. The design/build team of McShane Construction Co. and Ware Malcomb provided the design and construction services.