Industrial N Illinois

NKF represents Logistics Property Co. in 28-acre land acquisition

NKF represents Logistics Property Co. in 28-acre land acquisition,ph1

Newmark Knight Frank (NKF) successfully represented Logistics Property Company, LLC (LPC) in its acquisition of a 28-acre site at the entrance of Brewster Creek Business Park in Bartlett, Illinois. LPC will develop the parcel into two distribution facilities totaling 414,000 square feet.

NKF senior managing director Adam Marshall, SIOR, CCIM, executive managing director Brian Carroll and director Mark Deady, CCIM, represented LPC in the land acquisition and were also hired to market and lease the two state-of-the-art facilities, which will be built simultaneously. Both 207,000-square-foot buildings will break ground by the end of the month with a target completion date of January 2020. Each building will feature 32-foot clear height ceilings, 28 exterior docks, two drive-in doors, on-site trailer parking and 234 car parking.

“These two facilities will be the ideal size and location to satisfy the current demand in this submarket,” said Marshall. “The site will also benefit from its proximity to the Illinois 390 Elgin O’Hare Expressway, I-90, I-88 and its great visibility.”

Located in DuPage County, 35 miles west of downtown Chicago at the intersection of Stearns Road and Munger Road, Brewster Creek is a 670-acre mixed-use business park. It features fully improved sites ranging from two acres to more than 50 acres for purchase, build-to-suit or lease. Elgin Community College is located nearby, which provides workforce recruitment and custom training services with grant support from the Department of Commerce and Economic Opportunity, offering a diverse and skilled workforce.