NAI Hiffman Timelines: Creating Value in Chicago’s I-80 Industrial Corridor
Owners & developers engaged NAI Hiffman brokers Steve Connolly and Eric Tresslar to help transform 269 acres of land in Joliet between I-80 and the Des Plaines River into one of Chicagoland’s most successful development projects of the past two years.
Ketone Partners purchased the plot in 2016. Within a year, the NAI Hiffman brokers sold 75 acres to The OPUS Group and 25 acres to First Industrial Realty Trust for a 1.2 M SF facility and a 355,000 SF facility, respectively. The brokerage team was engaged by both developers to market their spec development projects, which were both delivered in the second half of 2018. By the end of 2019, the brokerage team sold an additional 25 acres and completed more than 1.5 M SF of leasing on the site.
Connolly and Tresslar completed five transactions valued at more than $150 million in less than three years. In the coming years, the location will be the site of a new toll bridge connecting I-80 to the northern area of the UP and BNSF intermodal terminals.
For more information about availabilities at this site, or for assistance on your next project, contact:
Steve Connolly, SIOR
email@example.com | 630-693-0642
firstname.lastname@example.org | 630-693-0650