The new building in Rock Run bucks a "bigger is better" trend in warehouse projects, according to Torto Wheaton Research. The company notes a sharp increase in 500,000-sf-plus warehouses being built in recent years, representing as much as 14% of new industrial product. The only two markets to outpace Chicago in adding 250,000-sf-plus warehouse space since 2001 are Riverside, CA and Atlanta, according to Torto Wheaton Research.
Jack Cozzie of Grubb & Ellis represented St. Louis-based Madison Warehouse. Mike Fonda, Brendan Kelly and Hugh Williams of Cushman & Wakefield handled negotiations for Atlanta-based IDI, which has drawn Petco, Kendall Healthcare, Mack Trucks and Georgia Pacific to its 386-acre Rock Run Business Park at I-80 and Houbolt Road.
Madison Warehouse's first site in Rock Run Business Park was sold for $18 million last year to the Teachers Insurance & Annuity Association.
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