NAI Hiffman assists in sale of 8-acre land site in Romeoville, IL
ROMEOVILLE, IL (January 4, 2017) – NAI Hiffman is proud to announce that the firm has completed the sale of 5 Greenwood Avenue in Romeoville, Illinois.
DCT Industrial acquired the 8.3-acre property from a private seller and has already begun demolition of the existing structures. DCT Industrial plans to develop a 140,100-square-foot, state-of-the-art speculative building with delivery slated for Q4 2017.
“DCT is continuously looking for unique and creative ways to create value, specifically in land-constricted areas such as the I-55 Corridor submarket,” said Todd Vezza, a Senior Vice President at DCT Industrial. “The acquisition of this landsite provides us with an excellent opportunity to develop a modern distribution building in an extremely high-demand location.”
The new building, located within the I-55 Corridor, will feature 32’ ceiling height, 24 exterior docks, 4 drive-in doors, 137 car parking spaces, and will be divisible.
“There are very limited opportunities for new development in the I-55 corridor due to the lack of remaining land sites,” said Mark Moran, an executive vice president at NAI Hiffman. “At the same time, user demand continues to be strong from companies in the area looking for state-of-the-art facilities. The 5 Greenwood Ave. site provides DCT the opportunity to satisfy this demand. We are excited to represent DCT on this project.”
Moran, alongside NAI Hiffman Associate Broker, Brett Tomfohrde, and Executive Vice President, Steve Connolly, SIOR, represented the seller in this transaction. In addition, the team will be handling the leasing efforts on behalf of DCT Industrial going forward.
Mentioned in Daily Herald