CBRE will bring to market a new 306,645-square-foot industrial building in Waukegan, Illinois. The Visual Pak Companies, a privately owned group of interdependent contract packaging service companies, announced plans to demolish their unique historic warehouse facility and construct a modern, 306,645-square-foot industrial building in its place.
CBRE’s Whit Heitman and Sam Badger will market the space on behalf of The Visual Pak Companies.
The existing facility, located at 1210 S Waukegan Road within the Bridge Point North campus, was built in 1983 and currently serves as one of the company’s packaging and fulfillment centers.
According to a recent CBRE report, the Lake County industrial submarket experienced 2,127,516 square feet of positive net absorption in 2021 and has a vacancy rate of 4.4%.
The new cross-docked facility will feature 36-foot clear height, 78 exterior docks, and ample parking. The site is a is situated on a prime location within the Lake County submarket, providing future tenants with direct access to I-94.
Demolition of the existing building is expected to take place within the next few weeks. Construction on the new warehouse is expected to be complete in June 2023.
