Molto Putting Final Touches on 3rd Spec

CHICAGO—Molto Properties is nearing completion on a 226,090 square foot speculative industrial project located in Windham Lakes Southwest Business Park at 1881 Normantown Rd. in suburban Romeoville. This marks the developer's third project in the last 12 months within Chicago's I-55 industrial corridor. The company has named Jim Estus, principal with Colliers International's Chicago-based industrial advisory group, as exclusive agent of the building.

"1881 Normantown Road is scheduled for completion during the first quarter of 2016. Timing is ideal for a user wanting to custom tailor the interior build out to fit their needs," says Mark A. Saturno, senior principal of Molto. "Because of Meridian Design Build's fantastic performance on a very aggressive construction schedule, the property is now fully enclosed and paved, allow us to build out the interior without having to face the harsh winter elements."

The project team — which includes Estus and Molto's executives Michael Powers and Tony Cincinelli— has achieved significant preleasing success over the past 12 months at the firm's two other I-55 Corridor speculative projects.

General contractor Krusinski Construction Co. has nearly completed construction on Molto's 116,000 square foot building at 1055 Remington Blvd. in Bolingbrook. And in December, Impro Industries signed a 58,800 square foot lease at the property and will soon relocate from 375 South W. Frontage Rd. in Bolingbrook where it had occupied 31,000 square feet. Baldor Motorwill occupy the rest of the space. property.

In September of 2014, HellermannTyton leased the full 189,662 square foot property at 1485 Normantown Rd. in the Windham Lakes park. It occupied the facility in February 2015. 

According to Colliers' third quarter 2015 industrial market report, leasing volume in the I-55 Corridor increased to 1.5 million square feet in the third quarter, a 6.9% increase from the 1.4 million square feet of lease transactions completed in the second quarter. Large users drove tenant demand, as four transactions over 200,000 square feet were signed in the third quarter, accounting for 1.3 million square feet of the overall leasing volume.

"In addition to the highest quality of construction and modern industrial building features, these Molto properties all have one critical feature in common," says Estus. "The visibility from and access to I-55 will be a critical advantage to any potential tenant within this logistics-driven corridor."