A 160,000-sf speculative building has been finished at Park 88, which also is served by the Union Pacific Railroad. That will connect the industrial park with Union Pacific's 1,200-acre intermodal facility being developed by CenterPoint Properties Trust in Rochelle, 13 miles away.
Besides being bear the I-88/Peace Road interchange, the location also is in the I-39 Logistics Corridor. I-39 connects with other interstates that criss-cross the US.
Cushman & Wakefield senior director Michael C. Fonda and associate Hugh Williams make up the leasing team with local broker Steve Milner.
"Park 88 will be the most powerful economic development driver in the I-88 Corridor from Aurora to Rochelle," predicts Venture One Real Estate, LLC principal Mark B. Goode.
The local economy has been buoyed by Northern Illinois University, with an enrollment of 23,000. The city's population is about 40,000. "DeKalb has been recession-proof for years," says city department of community development director Paul Rasmussen. "However, Park 88 provides an opportunity for us to broaden and diversify our economy and still utilize the resources of the city's major asset–the university."
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