CHICAGO—PCCP, LLC has just formed a joint venture with Panattoni Development Co. Inc. and acquired a 51-acre land parcel in suburban Lockport. The partners plan to develop Lockport 355, a four-building industrial park totaling 846,510 square feet.

PCCP/Panattoni plan to develop the Lockport project in two phases and end up with four class A warehouse and distribution buildings. The developers will begin construction on two of the buildings, one of 274,040 square feet and another of 228,690 square feet, in June and expect to complete this phase during the first quarter of 2016.

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