CHICAGO-DCT Industrial Trust Inc. has purchased a 32.6-acre land parcel in Romeoville, within the southern I-55 industrial submarket of Chicago. Although the firm could not disclose the purchase price to GlobeSt.com at this time, the company plans to start construction in May on a 604,000-square-foot cross-dock facility on the land.
The building will be called DCT Boldt Park, and will incorporate DCT Industrial’s sustainable design initiative and DCT Industrial will seek LEED certification on the building. The firm also tells GlobeSt.com that it cannot disclose construction costs at this time.
“The I-55 submarket is one of the most desirable distribution areas in Chicago, with favorable supply dynamics for buildings of this size,” explains Brian Roach, regional VP of DCT Industrial. “We are confident that DCT Boldt Park will be well-received in the market given strong tenant activity and the building’s state-of-the-art design."
DCT Industrial is the developer of the project and has hired Ryan Cos. as the general contractor for the building. The project is scheduled for completion fourth quarter 2012 and will complement DCT Industrial’s existing 5.6 million square foot Chicago portfolio, including unconsolidated assets, according to a prepared statement.
This isn’t the first development for the company this year. In January, the Denver based firm bought 12.9 acres in the 60-acre Airtex Industrial Center in Houston from Panattoni Development Co. with plans to build a speculative 267,150-square-foot cross-dock facility, with construction anticipated to launch as early as Q2, 2012 and completion slated for early 2013, as GlobeSt.com previously reported.
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Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
