Distribution Realty Group and F. Greek Development's Veteran Lakes now open for business
BOLINGBROOK, IL (December 2, 2016) - NAI Hiffman proudly announces that Distribution Realty Group (DRG) and F. Greek Development have recently completed construction of 990 Veterans Parkway in Bolingbrook, Illinois. The 182,875-square-foot Class A industrial distribution building is positioned minutes from access to I-55 via the Route 53 or the Weber Road four-way interchanges. The building provides excellent I-55 visibility and exposure to the more than 14,000 cars passing daily.
The state-of-the-art building boasts 32' clear height throughout, 14 exterior docks with the ability to add positions, build-to-suit office space, 2 drive-in-doors, 20 trailer stalls, and 170 car parking capacity that is expandable.
ARCO/Murray was the general contractor and construction operator on the project. NAI Hiffman’s Adam Roth, Executive Vice President, and Packy Doyle, Associate, will lead leasing for the building with space available for immediate occupancy.
"The ability for this project to demise and offer higher levels of car parking make it an ideal fit for this corridor and the type of tenants in the market," says Adam Roth of NAI Hiffman. Located 30 miles southwest of Chicago, Bolingbrook is a desired location for tenants looking for immediate access to the interstate, as it is in close proximity to both I-55 and I-355. The I-55 Corridor has a vacancy rate of 6.13% and absorbed nearly 3 million SF in the third quarter of this year. Year-to-date absorption for the corridor is over 3.6 million SF.
About NAI Hiffman
Comprised of over 150 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 54+ million SF portfolio of over 600 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property.
About Distribution Realty Group
Distribution Realty Group LLC ("DRG") was founded in 2013 as a private industrial real estate company with offices in Chicago and Nashville, TN. Since its inception, DRG has acquired and developed over 1.3 million square feet of industrial properties with a total market capitalization in excess of $100 million. For more information, visit www.distributionrealtygroup.com.
About F. Greek Development
F. Greek Development is a leading Central New Jersey-based full-service real estate firm focused on industrial development throughout New Jersey and Pennsylvania. Founded in 1934, the company has developed more than 15 million square feet of primarily industrial space. As one of the oldest industrial real estate development specialists in the industry today. F. Greek Development is a vertically-integrated company operating every phase of its more that 16 million square foot portfolio including site selection, design, construction leasing, property management and tenant relations. For more information, visit www.greekdevelopment.com.
Mentioned in the Daily Herald