Venture One in a joint venture with Stockbridge Capital Group began construction on a 271,700 square-foot speculative distribution building at 1200 S. Schmidt Rd., in Romeoville, Illinois, in the I-55 Corridor.
The facility is being developed to accommodate an array of tenant sizes and uses. Amenities such as 32′ clear height, ESFR sprinklers, 185 foot truck court and abundant car and trailer parking for up to 56 trailers and 200 autos have been incorporated into the design of this building.
“With a vacancy rate of just 7 percent and over 4.5 million square feet of positive absorption year to date, the I-55 corridor continues to be one of the strongest submarkets in the region,” said Ryan Stoller, Principal at Venture One
Meridian Design Build will serve as the design-builder with Ware Malcomb as architect on the project. MB Financial will provide the construction financing. Keith Stauber, Steve Ostrowski and Matt Rakowich of JLL are the agents for the building, scheduled for completion in the summer of 2017.
