Ridge, the industrial development arm of Transwestern Development Co., has acquired 10.5 acres immediately southeast of O’Hare International Airport for a 178,516-square-foot speculative industrial project. As one of the newest offerings in the O’Hare submarket, O’Hare Gateway Logistics Center will feature 32-foot clear height, low Cook County 6b taxes and premier visibility at the corner of Belmont Avenue and River Road. Ridge will break ground in mid-2018 with expected delivery at the end of the year.
“We are excited for the rare opportunity to deliver modern infill distribution space in an O’Hare submarket that has significant barriers to entry,” said Kevin Mohoney, vice president at Ridge. “O’Hare Gateway Logistics Center will efficiently offer small-block modern space to a core segment of the O’Hare market that is perpetually underserved due to incredible land constraints.”
Located at 9100 W. Belmont Avenue in Franklin Park, IL, the site is proximate to several key transportation hubs aside from the airport, including O’Hare’s South Cargo entrance, Canadian Pacific’s Bensenville Intermodal and Interstate 294. In addition, the site provides access to a deep and talented labor pool as well as both local and regional transit for employees.
“The O’Hare submarket remains one of the healthiest and most robust markets in Chicago and is consistently one of the top markets in the country,” said Mohoney. “We look forward to executing on this opportunity which will create a meaningful addition to the submarket and an irreplaceable asset for our equity partner.”
Jonathan Kohn of Colliers International has been retained as listing agent for the project. Design and engineering of the project will be handled by Harris Architects and Manhard Consulting, respectively.
