CHICAGO—A joint venture between Chicago-basedDistribution Realty Group and East Brunswick,NJ-based F. Greek Development recently acquired11.16 acres located at 990 Veterans Parkway in suburban Bolingbrookand have decided to develop a 182,875 square foot class Adistribution facility on the site.
Like an increasing number of developers, joint venture officialsfelt the robust absorption in both the region and the submarketaround I-55 justifies launching such a project on a speculativebasis.
“I-55 is one of the most dynamic industrial markets in Chicago,”James Love, managing partner of DRG, tellsGlobeSt.com. “We have seen over 2.5 million square feet of grossabsorption so far this quarter, and the activity level remainshigh.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
