As seen in Chicago Real Estate Daily Pancor Construction & Development LLC has begun work on a 166,000-square-foot speculative industrial building at an Elgin business park. The facility, slated to be finished this summer, will be the fourth building in Elgin-based Pancor's Randall Point Business Park near the intersection of Interstate 90 and Randall Road. The other buildings in the park are fully leased. Pancor is developing the building with Boston-based TA Associates Realty. Dan Leahy and Adam Marshall of Oakbrook Terrace-based NAI Hiffman are leasing the building. A lease is in the works for about a third of the space, Mr. Leahy says, declining to identify the prospective tenant. The park has room for another 1 million square feet, says Pancor Principal Richard Panichi.
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Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management and investment sales representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages a 77+ million SF portfolio of over 600 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout the world, with 7,000+ local market professionals, handling over $20 billion in transaction value and managing 425+ million SF of property. For more information, please visit www.naihiffman.com.