Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has announced the acquisition of the Allstate Corporation corporate campus in Glenview, Illinois. The 232-acre site will become a logistics-focused campus designed to serve logistics customers who value immediate access to local consumers.
The Logistics Campus is a planned, 10-building logistics park totaling 3,235,020 available square feet with flexibility to accommodate build-to-suits. Planned buildings can also be consolidated for a larger footprint. All buildings will feature Class A sustainable design and construction. Dermody Properties will immediately commence construction on five buildings totaling 1.2 million square feet scheduled for completion in the second and third quarters of 2023. The remaining 125 acres will be available for multiple build to suits or, a single building of up to two million square feet.
The campus is located on Sanders Road, adjacent to Interstate 294 and SW of the Willow Road interchange, allowing for efficient access to O’Hare International Airport (approximately a 10 minute drive) and the entire region.
The project benefits from the existing ground transportation infrastructure which was sized for the prior office campus use. The project’s adjacency to the mature ground transportation infrastructure will mitigate traffic on neighboring residential streets.
Project design will incorporate highly attractive exteriors and will benefit from the repurposing of existing mature landscaping and ponds to ensure the new development seamlessly integrates into the community from a visual perspective. Dermody Properties plans to preserve 50 years of plant life and growth on the site with an effort to relocate hundreds of trees to complement the industrial buildings.
