The distribution center was recently constructed and is stillvacant, says Doug Kiersey, SVP and Midwest regional director forProLogis. "It was just finished right at the end of the year," hesays. The facility has four drive-in doors and 76 exterior docks,which are expandable to 152 docks. "The building is constructed soit would be flexible enough to accommodate four customers," Kierseysays, adding that it will likely have one to two tenants. Thefacility will be marketed to consumer products companies,third-party logistics providers and manufacturers with largedistribution needs. The asking lease rate is $3.50 per sf.


ProLogis was interested in acquiring the facility to expand itsportfolio in the I-55 corridor, Kiersey says. "We have a verysignificant presence, not only in Chicago, but also in the I-55submarket. This builds on that platform," he says.


There is not a lot of land that can accommodate distributionfacilities larger than 500,000 sf, which made the newly constructedbuilding particularly attractive, he says. "One of the things thatattracted us to this building is its size," Kiersey says. "Thesubmarket has become very land constrained."


The building is near the Weber Road interchange for Interstate55, in the 4.5-million-sf ProLogis Park 55. ProLogis owns 30buildings with more than 9.3 million sf in the I-55 submarket,including six buildings, with a total of 3.1 million sf, inProLogis Park 55, which was originally developed by ProLogis,Kiersey says. Companies located in the park include Gillette andAPL Logistics.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.