Frito Lay has sold its 13.9-acre distribution center at 800 Northgate Parkway in Wheeling to Itasca, Illinois-based Hamilton Partners.
The developer plans to build a 134,593-square-foot speculative industrial facility at the site, which is located in northeast Cook County, just south of Lake Cook Road and approximately three miles west of I-94 and I-294.
Ryan Bain, senior vice president, and Zachary Graham, first vice president, of CBRE represented Frito Lay in the sale, and have been retained by Hamilton Partners to represent the spec industrial project
The project from Hamilton Partners, named 800 Northgate Parkway, will feature 134,593 square feet that can be divided to 50,000 square feet. Additional features include 32′ clear height, 35 exterior docks, additional land for car or trailer parking, and a 6B tax incentive.
According to CBRE Research, the northeast Cook County market had a vacancy rate of 2.6 percent in the first quarter 2016, making it one of the tightest markets in the Chicago area.
“The industrial base in this area consists primarily of 30 to 40-year-old product,” Bain said. “The highly efficient, state-of-the-art spec facility will be well received by occupiers in the North Chicago suburbs.”