F. Greek Development, the East Brunswick-based industrial real estate company, announced that it has entered into a partnership with Chicago-based real estate firm Distribution Realty Group to build a speculative Class A distribution facility in Bolingbrook, Illinois. The joint venture has acquired a 11.16 acre site at 990 Veterans Parkway to develop a 182,875 square foot class A distribution facility scheduled for completion within a year.
"Chicago is one of the country's Tier 1 markets," David Greek of F. Greek Development said in a prepared statement. "With over 1.3 billion square feet of industrial inventory, it is a critical link in the U.S. supply chain. We are excited to be expanding our presence here."
"This is a dynamic opportunity for both Distribution Realty Group and Greek Development," said James Love, Managing Partner of Distribution Realty Group. "FGD is supplying the capital resources along with an experienced team of managers that will work together with the team of Distribution Realty to diligently manage every phase of this project from the entitlement process straight through to project completion and property management."
Set to break ground this summer, the building design will feature insulated tilt-up construction, 32' ceiling clear height, large bay spacing, ESFR sprinkler systems, corporate quality glass storefronts, ample dock loading, deep truck courts, trailer parking and the ability to demise the building for multiple tenants. The new project will be the first in the Chicago market by F. Greek, an active industrial developer in its home state and Pennsylvania.
For more news and information visit Blumberg Partners.
No comments:
Post a Comment