CHICAGO—The economic fundamentals underlying the regional industrial market are so strong that launching speculative developments in certain submarkets has become a no-brainer, Daniel E. Fogarty Jr., tells GlobeSt.com.

The vice president of Conor Commercial Real Estate, a member of the McShane Companies, just recently helped the company finish Northwest Pointe, a speculative industrial development in suburban Elgin. As reported last week, it just signed Glenview, IL-based Illinois Tool Works, one of Chicagoland’s largest and most successful corporations, to occupy 136,972-square-feet in the 342,620-square-foot industrial facility at 2501 Galvin Rd.

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