Principals Gerald Sullivan and Edward Wabick and SVP J. LouisDeSanto, all with Paine/Wetzel•Oncor International, representedboth First Industrial and JBBRE Holdings in the sales transaction.First Industrial was interested in the property because of itsproximity to Chicago, which "is the largest inland port in thenation," says Marty Edmondson, regional development officer forFirst Industrial. "This location, which we are calling First ParkJoliet, is just very strategically located to serve our customersfor efficient access to multiple modes of transportation," he says.The land is near the Houbolt Road interchange for Interstate 80 andis also near Interstate 55 and Interstate 355. "We feel it is afantastic location. It is kind of right in the middle ofeverything," Edmondson tells GlobeSt.com.

First Park Joliet is expected to have a total of 3.2-million sfwhen completely built out, Edmondson says. "This year, we areplanning to do all the horizontal improvements," he says. Site workhas already begun on the land, which is already zoned industrialand had been previously annexed into the city of Joliet, he says.Infrastructure work, including utilities and constructing roads toaccess all of the different parcels, is planned to commence by Aug.1, Edmondson says. These activities should be complete by thisfall. "At his time, we are not planning speculative facilities, butthe land is available for build to suit for sale or lease,"Edmondson says.