Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROMEOVILLE, IL-A 658,060-sf distribution center is under construction in the Windham Lakes Business Park, and expected to be completed by the middle of next year. Although cost of the project or asking sales price is not being disclosed, asking net lease rates are $3.95 per sf.

The building is a joint venture between Chicago-based ORIX Real Estate Equities, Inc. and RREEF, their second. The other joint venture is a 334,175-sf distribution center in the Meadowlands area of northern New Jersey.

The 34-acre site at the main entrance to Windham Lakes Business Park is the first industrial site at the interchange at Weber Road and I-55.

“The I-55 corridor is one of the country’s hottest distribution markets,” says ORIX’s executive vice president of development Jonathan Malm. “There is excellent demand and leasing velocity for industrial space of this type and size.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.