Chicago, IL - June 12, 2015 – F. Greek Development, a leading full-service industrial real estate company, announced today they have acquired 11.16 acres in Bolingbrook, Illinois in a joint venture with Chicago-based, Distribution Realty Group. The Partnership plans to construct a speculative Class A distribution facility within minutes of the I-55 corridor. Set to break ground in the summer of 2015, the Class A industrial property is scheduled for completion within a year.
"This is a dynamic opportunity for both Distribution Realty Group and Greek Development," said James Love, Managing Partner of Distribution Realty Group. "FGD is supplying the capital resources along with an experienced team of managers that will work together with the team of Distribution Realty to diligently manage every phase of this project from the entitlement process straight through to project completion and property management."
Located on 990 Veterans Parkway and Crossroads Parkway, the Partnership will construct a 182,875 square-foot Class A warehouse. Enhancing the full function of the property, the building design will feature insulated tilt-up construction, 32' ceiling clear height, large bay spacing, ESFR sprinkler systems, corporate quality glass storefronts, ample dock loading, deep truck courts, trailer parking and the ability to demise the building for multiple tenants.
"Chicago is one of the country's Tier-1 markets. With over 1.3 billion square feet of industrial inventory, it is a critical link in the U.S. supply chain," said David Greek of F. Greek Development. "We are excited to be expanding our presence here."