USAA Real Estate Company has acquired 32 acres of land in North Aurora and has contracted The Opus Group to develop, design and construct a 604,565-square-foot speculative industrial building. USAA Real Estate Company will own the building.
“The I-88 market is very tight,” said Mike Yungerman, vice president of real estate development at Opus Development Company LLC. “There are very limited opportunities for large blocks of space and we’re excited to be able to fill the void along this corridor with a flexible project that can appeal to a wide range of tenants.”
The speculative building will be located in a high-density area, offering a stable labor pool and highly educated workforce from DuPage and Kane counties. Additionally, the site has immediate access to I-88 via the four-way interchange at Orchard Road.
“We are excited about the opportunity to commence this new development venture with Opus Development Company and are confident that, with the design and expandability of this building, we will successfully meet the pent-up demand for larger users who currently have limited options to start up new operations or expand existing ones in the I-88 corridor,” said David Reahl, executive director with USAA Real Estate Company.
Building features include 32-foot clear height, 60 docks (expandable), 103 trailer parking spaces (expandable), ESFR sprinkler system, T5 lighting, office space to suit future tenant requirements and future expansion capabilities to 1 million square feet. Construction is slated to begin in early October, with completion scheduled for June 2014.
Opus Development Company will be the developer, Opus Design Build will construct the building and Opus AE Group will serve as project architect.
Brendan Kelly of Avison Young represented Opus in the land transaction. Opus also purchased an adjacent 25 acre parcel that is available for build-to-suit opportunities or building expansion.
© 2016 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or email@example.com