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CHICAGO—Last spring, HSA Commercial, an industrial developer, broke ground on a 180,480-square-foot speculative warehouse in west suburban Woodridge and they just broke ground on yet another, this time at Delany Rd. and Blanchard Rd. in north suburban Waukegan. They partnered with Boston-based Great Point Investors for this 218,500-square-foot building, the first speculative industrial project northern Lake County has seen in a long time.

“Being the first in the ground means a lot,” says Tim Thompson, executive vice president and managing director of the Industrial Services Division at Chicago-based HSA Commercial. “There are other people looking around up there and talking about doing something, but no one else has started.” Leasing activity has been accelerating in the immediate area for some time, especially among local companies hunting for new, class A space. “In that market, a lot of them are growing and right now they have nowhere to go. Obviously, we’re going to get a lot of attention.”

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