WEST CHICAGO, IL-The DuPage Business Center, a 450-acre flex campus developed as a technology park in 2005, has struggled to gain more than one tenant. The property is owned by a partnership of CenterPoint Properties and the DuPage Airport Authority, and has only its original first tenant of Pella Corp. in a 175,000-square-foot facility.
The partnership created the park to hold more than five million square feet, with special accommodations for technology users. The park has 25 megawatts of power with the ability to ramp up to 100 megawatts within 12 months, as well as a private underground redundant fiber loop. Jones Lang LaSalle is marketing the property for CenterPoint.
Pella announced it was moving into the park as the property was being developed. CenterPoint also built a 66,000-square-foot data center for Cyber Continuity Center, but the client pulled out. Len Caldeira, a managing director at JLL, says it’s likely it would only take a few months to finish the building.
Caldeira said the property has had some hiccups - designed for technology users, the park is not ideal for distribution, as it's about six miles from the main Interstate 88 corridor - and the economy meltdown and subsequent lending cut-off shut down a lot of potential deals. However, he tells GlobeSt.com that the partnership has made changes, such as renaming the center from DuPage National Technology Park, and allowing leasing instead of just development. Also, a new Metra station is being discussed for the north end of the property. “That would bring in greater potential for retail development,” he says.
Land in the park is now available for $3.95 per square foot, or lower for larger parcels. The property also includes incentives from the authority, the city, DuPage County and the state.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
