Construction has officially started on an expandable 746,772-square-foot speculative warehouse at 201 Emerald Drive, Joliet, Illinois, within Laraway Crossings Business Park. The building is being developed by Hillwood Investment Properties and constructed by a division of Ryan Companies US, Inc.
Laraway Crossings Business Park, located on the northeast corner of Route 53 and Laraway Road, is a 362-acre business park that launched in 2000 by Ryan Companies with the potential of seven buildings and 5,100,000 square feet. With a strategic and aggressive plan to build its Chicago area presence, Hillwood acquired the 49.12-acre site on which the building is being constructed.
According to John Dunneback, Ryan’s Director of Development, the available land within Laraway Crossings satisfied Hillwood’s need to quickly establish a presence in the extremely popular I-80/I-55 Corridors.
The new building, which is expandable by approximately 312,320 square feet for an overall potential size of just under 1,100,000 square feet, will be a modern design, high-cube warehouse and distribution facility. It will feature a 36′ clear ceiling height, 130′ and 186′ deep truck courts, 76 – 9′ x 10′ Dock high doors (expandable to 169 doors), four 12′ x 14′ drive-in doors and parking stalls for 154 cars and 72 trailers. Additional car and trailer stalls can be accommodated, depending on the needs of the tenants of the building.
Suitable for a single user, the building is being marketed as divisible to 373,400 square feet. Other features of the facility will include state-of-the-art lighting, an ESFR sprinkler system, 45 Mil EPDM ballasted roof, a factory-primed white metal roof deck, 35,000 lb. mechanical dock levelers and 4,000 Amp, 480/277 volt electrical service.
Among the many advantages, the park has immediate access to I-80 and I-55, with accessibility via a full interchange at I-80 and IL Route 53, as well as local and regional access via I-80, I-55 and I-355. Additionally, the property has low Will County taxes, is in close proximity to the BNSF and UP intermodal facilities, and the park location provides access to an abundant labor pool. Local corporate neighbors include IKEA, Amazon, Acer Inc., Dollar Tree and Cadence Permier Logistics.
Jason West and Sean Henrick of Cushman & Wakefield are Hillwood’s listing representatives. Building completion is scheduled for early summer of 2016.
