Spec industrial building under way in Elgin

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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