Conor Commercial Real Estate is pleased to announce the sale of Northwest Pointe III in Elgin, Illinois, to a confidential buyer. Located adjacent to I-90 and Randall Road, the development incorporates two buildings totaling 349,080 square feet. The property is Conor’s third development in Elgin’s sold-out Northwest Corporate Park.
At the time of sale, the development was 72% leased to three tenants including an undisclosed global logistics and package delivery company, an undisclosed plastics company and Continental Packaging, a provider of custom package design solutions.
“Between the project’s access to transportation at Randall and I-90, the quality of tenancy, quality of construction and design, and the value of a mature business park, all of those attributes make Northwest Pointe III an attractive long-term investment,” shared Brian Quigley, Executive Vice President at Conor. “We are pleased with this successful conclusion to our third and final phase of development within Northwest Corporate Park.”
Situated on a 20.54-acre corner lot in the business-friendly City of Elgin, Illinois, Northwest Pointe III offers high visibility from Higgins and Galvin Roads. The site is located just 1.5 miles from the Randall Road four-way interchange, giving tenants direct access to I-90. The property is also near the many shops and restaurants along Randall Road.
Both buildings feature a metal steel frame with a precast concrete exterior and clerestory windows that provide natural lighting in the office entrances. Building One incorporates 163,080 square feet and 145 parking spaces, while the slightly larger Building Two has a total of 186,000 square feet with 239 parking spaces.
The buildings also feature office space to suit, 50′ x 52′ bay spacing, a 32′ clear height, an ESFR sprinkler system, and 20 dock doors that are expandable to 28 with two drive-in doors in each building.
Ed Halaburt and John Huguenard of JLL represented Conor in the sale. The design-build team of McShane Construction Company and Ware Malcomb provided the comprehensive design and construction services for Northwest Pointe III.