Industrial Midwest

Another industrial building fills up at Panattoni's 355 Corporate Center in Lockport

NPL-355-Corp-Center

DFS, Inc. has signed a 62,598-square-foot lease at 355 Corporate Center building #2 in Lockport, Illinois, bringing the 228,690-square-foot spec building to 100 percent occupancy and filling the last remaining space within Phase I of the development.

DFS, Inc. has signed a 62,598-square-foot lease at 355 Corporate Center building No.2 in Lockport, Illinois, bringing the 228,690-square-foot spec building to 100 percent occupancy and filling the last remaining space within Phase I of the development.

Panattoni Development recently started on Phase II of the project, breaking ground on a 300,158-square-foot building that is scheduled for completion in spring 2017.

Mark Barbato and Adam Stokes of Nicolson, Porter & List represented Panattoni in the transaction.

“The success of 355 Corporate Center has proven that the I-355 corridor is a premier distribution corridor for large, high quality tenants,” Barbato said.  “As we begin the preleasing process for Phase II of the project, we see strong demand for state-of-the-art space in a central location.”

Panattoni Development Co., one of the most active developers in the I-55 corridor, expanded its presence to the I-355 corridor with the 50-acre 355 Corporate Center, working with joint venture partner PCCP.

Phase I consisted of two speculative light industrial buildings, each of which was fully leased shortly after the completion of construction.  UPS leased the first building in its entirety immediately upon completion, and Illinois Industrial Tool took 166,092 square feet in the second building in August. The lease with DFS fills the rest of building No. 2.

355 Corporate Center is located less than one mile from a full interchange at 159th and I-355, seven miles from I-55 and five miles from I-80. Buildings at the park feature 32-foot clear heights, ESFR sprinkler systems and highly visible locations, including over a half mile of highway frontage on I-355.