CT Breaks Ground on 1.3 Million-SF Logistics Park in Romeoville
CT Realty Investors is bringing more than one million square feet of industrial space to market following news the company has started construction on a massive new industrial park in Chicagoland.
Dubbed Interchange 55 Logistics Park, the $125 million spec project will consist of two cross-dock distribution facilities measuring approximately 1.34 million square feet on a 112-acre site acquired by CT in December. The project broke ground in February and is slated to deliver by year-end.
Building A will measure 657,000 square feet and feature 60 dock-high doors, 157 trailer parking spaces and 241 car parking spaces, while Building B will total 684,000 square feet with 68 dock-high doors, 175 trailer parking spaces and 465 car parking spaces. Both properties will sport 32-foot minimum clear heights, 560 feet of building depth and 185-foot deep all-concrete truck courts.
The site, located along Bluff Rd. in Romeoville, IL, will put prospective tenants in the coveted I-55 Corridor, and in close proximity to I-355 and logistics and intermodal freight transportation via BNSF Logistics Park, Union Pacific Intermodal Terminal, and FedEx and UPS Chicago area consolidation hubs.
Adam Roth, Daniel Leahy, Packy Doyle and Kevin Cooney of NAI Hiffman brokered the December land sale, and have been retained to market the industrial park for lease.
Founded in 1994 in Newport Beach, CA, CT Realty Investors has active developments in Northern and Southern California, Arizona, Dallas, Atlanta, New Jersey and Illinois, with plans to expand into additional top tier markets in 2018.
CT has the land to develop up to 15 million square feet of industrial space over the next five to seven years in the U.S., said managing partner Carter Ewing, who added the company hopes to grow its holdings in Chicagoland to seven million square feet in the next five years.