(Read more on the industrial market.)

MINOOKA, IL-Macy's Inc., with corporate offices in Cincinnatiand New York City, will move its Chicago distribution center to anewly constructed 850,000-sf, single-story facility at 600 MidPoint Rd. Macy's is purchasing the facility and the 48.6-acreparcel it is located on from Opus North Corp., headquartered inRosemont, IL. The acquisition price was not disclosed but aspokesman for Macy's says the company will invest $50 million forthe center, which includes the acquisition costs of the buildingand land in addition to the cost of equipment for the new facility.Representatives from Opus North declined to be interviewed.

Macy's current distribution center is at 4000 W. Diversey Ave.,Chicago. The building had been used by Marshall Fields as adistribution center before Macy's acquired May Department Stores in2005, the spokesman says. The current distribution center is asix-story, 1.5-million-sf facility and is not efficient. "Thelogistics systems today is that the trucks with your merchandisepull up to the side of the building and the merchandise comes outof the trucks and into trucks on the other side," he says. "Themerchandise stays in the distribution center a matter of minutes asopposed to weeks or months or days."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.