(Chicago, Ill. ‒ Oct. 31, 2016) The Chicago office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, has begun construction of a 150,000-square-foot bulk warehouse in Romeoville in the I-55 submarket. The building, which is being developed on a speculative basis, is located just off Taylor Road between Belmont Drive and Paragon Drive with access to I-55 from both the Weber Road and Route 30 interchanges.
“Interest in the I-55 submarket has been strong since the first of the year, resulting in limited availability for companies looking to locate in this premier distribution hub,” said Ryan O’Leary, Senior Vice President of Duke Realty’s Chicago, Minneapolis and St. Louis operations. “With this new speculative building, we’ll be well-positioned to offer move-in ready, first-class space for clients with immediate needs in a location with superior highway access.”
This new building, which is slated for delivery in June 2017, will increase Duke Realty’s holdings in the I-55 submarket, where it currently owns and manages 3.5 million square feet. The facility, which is being built on a recently acquired 9.19-acre parcel, will feature 32′ clear height, 16 dock doors with expansion capabilities, two drive-in doors and 47.5′ x 50′ bay spacing. The building will be accessible from three entrances off Paragon Drive and one entrance off of Belmont Drive. Surrounding the building will be a 180 truck court, 32 trailer parking spaces and 111 automobile parking spaces.
Terry Grapenthin and Jeff Galante with Lee & Associates represented the seller of the parcel where the new building will be constructed, while Duke Realty was represented by Susan Bergdoll, Vice President of Leasing and Development and Jason West and Sean Henrick with Cushman and Wakefield.
Parties interested in preleasing Duke Realty’s new industrial building or in other leasing or BTS opportunities with Duke Realty in the Chicago metro area are invited to contact Ms. Bergdoll at 847.232.5420.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development approximately 12.6 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1301 W. 22nd Street, Suite 800 in Oak Brook.
Duke Realty Corporation specializes in the ownership, management and development of bulk distribution and medical office real estate. The company owns and operates approximately 137 million rentable square feet in 21 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.