Conor Commercial Real Estate and joint venture partner, Globe Corporation, have completed the construction of Northwest Pointe. The new 342,620-square-foot speculative industrial facility is located within the Northwest Corporate Park in Elgin and is ready for immediate tenant occupancy.
The Class A industrial precast facility has been designed and constructed to offer single- or multi-tenant suites ranging in size from 70,000 to 342,000 square feet. Northwest Pointe features cross-dock or single load configuration with a 32-foot clear height and office space to suit. The building is equipped with 68 exterior truck docks, four drive-in doors (expandable) and parking for 343 cars (expandable) with on-site trailer parking available.
The opportunity to develop Northwest Pointe follows the continued velocity of leasing activity and the depletion of existing industrial inventory within the northwest Chicago suburban market. Elgin’s low real estate taxes together with Northwest Pointe’s immediate and direct access to I-90 via the Randall Road four-way interchange were factors in the selection of the site and the option to launch the property as a speculative development.
“We are pleased to deliver this new speculative industrial facility with our long-standing partner, Globe Corporation,” said Daniel Fogarty Jr., vice president of Conor Commercial Real Estate. “We are confident that this Class A property will benefit users by providing high-quality industrial distribution/warehouse space to maximize business operations, together with the advantages of the site’s location within the Northwest Corporate Park, and competitive lease rates within the I-90 corridor market.”
Kenneth Franzese, principal, and John Cassidy, principal, of the Rosemont office of Lee & Associates represented the Conor/Globe venture in the acquisition and serve as exclusive marketing agents for the property. The design/build team of McShane Construction Company and Ware Malcomb provided the comprehensive design and construction services for the new development.