ELGIN, IL - Conor Commercial Real Estate andGlobe Corp. purchased 20 acres in the NorthwestCorporate Park from the Busse family for anundisclosed price. Conor says in a release it plans to build a342,620-square-foot speculative industrial facility on the sitenext year.

Conor, part of the McShane Cos. formed a jointventure with Globe to buy and develop the land, which will beoffered for lease or purchase. Known as Northwest Pointe, the siteoffers direct access to Interstate 90 near Randall Road.Groundbreaking on the project is scheduled for late winter of 2013and will be ready for occupancy by the middle of the year.

Conor, in its release, indicated a variety of reasons that madebuying the property a good move, including market conditions andlocation. Furthermore, continued expansion in leasing activitycombined with shrinking industrial inventory in the Chicago suburbsmade the purchase attractive. Adding to the attraction wereElgin's low real estate taxes and Northwest Pointe's access to theinterstate system via the Randall Road four-way interchange wereadditional factors in the site selection.