Panattoni has selected Cushman & Wakefield to market the new South Lake Industrial Center in Vernon Hills, Illinois. Panattoni will began grading in August, with delivery slated for Q2 2021.
Cushman & Wakefield executive directors Brett Kroner and Keith Puritz, managing director Eric Fischer, director Steve Stone and senior associate Marc Samuels will lead the marketing effort and offer the properties for lease.
The asset is located at 600, 620, 640 and 700 Darling Drive in Vernon Hills. The four buildings will total 904,523 square feet of Class A industrial/distribution space divisible down to 40,000 square feet. Construction has already begun on the 65-acre site, which fronts Milwaukee Avenue. The property is accessible to Interstate 94 interchanges at Half Day Road and Townline Road, 25 minutes from O’Hare International Airport and 50 minutes from Downtown Chicago.
“Given South Lake Industrial Center’s high-image buildings, wide-radius truck courts and heavy loading capabilities, Panattoni is well positioned to meet demand from a thriving industrial sector,” said Kroner. “Its access to metro Chicago, O’Hare Airport and the entire Midwest is unparalleled.”
The project represents the first speculative buildings delivered in Corporate Woods Business Park since 2001—a development that welcomed its first occupants in the early 1990s.
Building A at 600 Darling Drive will total 188,599 square feet with 32-foot clear heights, 32 loading docks and two drive-in doors. At 620 Darling Drive, Building B will total 191,893 square feet with 32-foot clear heights, 33 loading docks and two drive-in doors.
Building C at 640 Darling Drive will total 168,394 square feet with 32-foot clear heights, 34 loading docks and two drive-in doors. Finally, at 700 Darling Drive, Building D will total 355,643 square feet with 36-foot clear heights, 70 loading docks and two drive-in doors.
“South Lake Industrial Center is positioned in a unique location due to the scarcity of viable land sites in the market, its ease of access to highways and amenities and low Lake County taxes,” said Kroner. “Being situated within Vernon Hills’ world-class Corporate Woods Business Park, we’re truly the ‘hole in the donut’ so to speak. In addition, this development comes at an ideal time as we continue to see high demand for state-of-the-art warehouses in the Lake County market.”
