Avison Young negotiated a 291,728-square-foot industrial lease at Rock Run Business Park, Building 14, in Joliet, Illinois, in the I-80 Corridor. Accuride Corporation, a global manufacturer of premium automotive parts, will consolidate two of its Chicago area facilities into the new building, which was completed in the fourth quarter of 2018.
Avison Young principals Mike Fonda, Chris Lydon and Chris Tecu, and associate Brian Pomorski, based in the company’s Chicago office, represented developer IDI Logistics in leasing the entire building at 4050 Rock Creek Boulevard. The tenant was represented by Mohr Partners’ Mark Urbanowicz and Matt Burton.
“This was a significant transaction for the Chicago market, as it demonstrates the continued demand for modern industrial space that is well designed and strategically located along key distribution corridors,” said Lydon. “The tenant had several options in the I-80 Corridor and this one rose to the top quickly, given the building’s location near an important I-80 interchange and its design, which allows for a highly efficient distribution flow.”
Constructed with state-of-the-art features, 4050 Rock Creek Boulevard, Building 14 includes 36-foot clear height ceilings, 1,200 amp electrical service, LED warehouse lighting, “dark-sky” compliant exterior lighting, 38 dock doors and 234 parking spaces. The building, which is located near the I-80/Houbolt interchange, also features a pioneering Ductilcrete floor slab in the warehouse area that eliminates up to 75 percent of the typical joints and, thus, increases load capacity and reduces joint maintenance.
“We are pleased to welcome Accuride to the Rock Run Business Park,” said Jeff Lanaghan of IDI Logistics. “We have worked diligently to design and construct buildings that can meet the evolving needs of today’s occupiers, which is even more important in today’s competitive environment.”
IDI Logistics has built out Rock Run Business Park over the past 25 years, as market demand necessitated a need for new and more efficient space. The company has developed 27.1 million square feet of industrial space in the Chicago market and more than 200 million square feet across the globe.
There has been considerable speculative construction in the I-80 submarket in recent years, with 4.3 million square feet currently under construction across nine buildings. This is a welcome lease in a submarket that has struggled to find tenants for some of its big box developments.