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TINLEY PARK, IL-Panduit Corp., headquartered here, has closed the acquisition of a 52-acre parcel along Interstate 80 on the east side of 80th Avenue. The manufacturer of products for wiring and communications applications is buying the land to construct a new headquarters. The land parcel is about four miles from the current headquarters at 17301 S. Ridgeland Ave., here. A representative from Panduit did not return a phone call seeking comment.

The DeGregorio family, based in Chicago, sold the Windy City Campground at 18701 S. 80th Ave. and the Demus family, also based in Chicago, sold adjacent farm land, says Len Caldeira, managing principal of Staubach Cos. Caldeira and Conor Mullady, an associate, represented the land owners in the sales transaction. Longwood Real Estate Co. represented Panduit. The company was interested in acquiring the parcel because of “its visibility and also they finally made the operational decision to condense some of their operations,” Caldeira says. Panduit currently occupies 750,000 sf in the village of Tinley Park and has research and has a development operations facility in adjacent Orland Park, IL, as previously reported by GlobeSt.com.

The new facility will be 250,000 sf, Caldeira tells GlobeSt.com. The facility will initially house about 550 employees, he says. The sales price for the land was nearly $8.8 million, Caldeira tells GlobeSt.com. Panduit will invest $39.4 million in a new headquarters, as previously reported by GlobeSt.com.

The company was established in 1955 and has affiliates in 33 countries. Panduit currently is headquartered in the part of the village that is in Cook County, while the new headquarters will be located in the portion of the village in Will County, which traditionally has lower taxes than Cook. The corporation will receive $13.4 million in tax credits from the state.

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