Major Groundbreaking Event for Logistics Center
Hillwood and Clarius Partners recently celebrated the groundbreaking of the University Park Logistics Center, a significant industrial development covering approximately 970,123 square feet. This project is located conveniently within the vital Chicago I-57 corridor, setting the stage for a new era in logistics and distributions.
Strategic Location and Market Access
The logistics center is strategically situated just two minutes from the I-57 interchange at Stuenkel Road, offering seamless access to regional and national markets. Remarkably, it can reach around 85.5 million people within a single day's drive, marking an impressive potential customer base. This accessibility is further bolstered by Will County's competitive real estate tax structure and available TIF incentives, which enhance the long-term viability of the project for future tenants.
Meeting Market Demand for Large Facilities
Industry experts, including brokers David Bercu and Jim Estus from Colliers, have highlighted the rising need for significant industrial spaces as the demand for buildings over 800,000 square feet has been soaring. The University Park Logistics Center is poised to fill this gap in the market, making its entrance at a crucial time.
Project Highlights
- Location: Less than two minutes from I-57 interchange at Stuenkel Road
- Size: Approximately 970,123 square feet of speculative industrial space
- Market Reach: Within one day’s drive of 85.5 million residents in the U.S.
- Cost Benefits: Will County offers low real estate taxes and TIF incentives that enhance long-term savings
- Access: Exceptional labor availability and connections to multiple transportation modes
Transformative Impact on the Region
Rachel Agba-Novak, Vice President of Transactions and Development at Hillwood, emphasized the transformative nature of the University Park Logistics Center. This development not only adds substantial modern logistics space but does so in an area where such facilities are increasingly scarce. The combination of location, labor access, and cost benefits positions this center as a prime opportunity for attracting new investment and creating jobs, thereby reinforcing the region's importance in the national supply chain.
Growth in the Chicago Region
Taivo Tammaru, Executive Vice President at Clarius Partners, expressed enthusiasm about their collaboration with Hillwood, noting that the University Park Logistics Center is expected to lead the Chicago industrial market by 2026.
Hillwood's strategy continues to focus on expanding its Midwest presence, emphasizing developments that enhance the logistics network across the region while establishing itself as a leading logistics hub within the industry.
Contact for More Information
For more inquiries about leasing or additional details on the University Park Logistics Center, interested parties can reach out directly to David Bercu and Jim Estus for their expertise and insights.
Frequently Asked Questions
What is the size of the University Park Logistics Center?
The facility encompasses approximately 970,123 square feet, making it a substantial addition to the industrial landscape.
Where is the logistics center located?
It is strategically located two minutes from the I-57 interchange at Stuenkel Road, providing excellent access to numerous markets.
What are the business advantages of this logistics center?
The project benefits from Will County's low real estate taxes and TIF incentives, which offer long-term cost savings for tenants.
How does the center benefit the local economy?
This development is expected to attract new investments, create jobs, and bolster the local supply chain’s role nationally.
Who can I contact for more information regarding leasing options?
For inquiries related to leasing, reach out to David Bercu or Jim Estus directly for their professional insights.
