Industrial N Illinois

NAI Hiffman reps Ketone Partners in land sale to GP Transco for future HQ

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NAI Hiffman represented Ketone Partners in the sale of 22.5 acres of land in Joliet, Illinois. The buyer, logistics firm GP Transco, plans to develop the site and relocate from Darien, Illinois into its new, state-of-the-art, 40,000-square-foot headquarters by Spring of 2020.

Eric Tresslar and Steve Connolly, executive vice presidents at NAI Hiffman, brokered the deal on behalf of Ketone. Located at Illinois Route 6 and Houbolt Road, the project is part of Ketone’s 262-acre business park, where the firm previously sold sites to Opus and First Industrial for speculative industrial buildings.

Working with Heitman Architects, GP Transco has designed a new facility that will provide more than 500 spaces for trailers and tractors, to further support the demand of its growing logistics clients. The project will include company amenities to retain and attract talent, and also provide 24-hour amenities to GP Transco’s truck drivers. The development is being led by Kyle Schuhmacher and Jennifer Wagner of Ketone Partners; Keeley Construction has been selected as general contractor for the construction of the project.

Ketone is developing a marine terminal on 70 acres of the project and has 37 acres remaining for development. The site has immediate access to the planned Houbolt Road extension which is scheduled to begin construction in 3Q 2019 with completion estimated in 2021. The extension includes a new bridge that will provide direct access to the BNSF and Union Pacific Intermodal Terminals, currently moving more than 3 million TEU’s annually through the Midwest to locations globally.

“We are excited that GP Transco decided to relocate its corporate headquarters and vehicle maintenance facility to our project in Joliet,” said Schuhmacher, president of Ketone Partners. “Our remaining land offers an exceptional opportunity for companies like GP Transco to lease or own a state-of-the-art, secured vehicle maintenance space with ample outside storage for trucks, trailers and other equipment.”