- Monday, June 3, 2019
- Des Plaines, Illinois
News Release: Seefried Industrial Properties and Long-Standing European Capital Partner Launch New Distribution Facility in Des Plaines, IL (O'Hare Submarket)
Seefried Properties and Long-Standing European Capital Partner Launch New Distribution Facility in Des Plaines, IL (O'Hare Submarket).
Des Plaines, IL (June 3, 2019) - Seefried Industrial Properties along with a long-standing European capital partner have recently purchased a 3.9-acre site to develop a 72,000-square-foot spec distribution facility located on Wolf Road less than half a mile north of O'Hare Airport. The endeavor confirms the tenth building Seefried has developed within the O'Hare market and will be designed to accommodate freight-forwarding and air cargo warehousing. The project will consist of state-of-the-art new construction featuring 30-foot clear heights, fifteen total dock doors along with two drive-in doors, eighty-six car parking positions and an ESFR sprinkler system.
"The O'Hare industrial market has shown excellent leasing activity in recent years, particularly in Class A product," said Seefried Properties Senior Vice President Dave Riefe. "We think this is a trend that will continue for the foreseeable future. This new distribution facility looks to take advantage of this activity with its proximity to the airport and easy access to I-90."
Construction is set to begin early October 2019 and is anticipated for completion during the second quarter of 2020. The building is currently available for lease or sale.
About Seefried Industrial Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Properties specializes in the development, leasing and management of industrial real estate in core markets across the U.S. Seefried leases and manages approximately 35 million square feet for its institutional and European clients and has developed more than 190 million square feet of space valued in excess of $13 billion across 30+ markets throughout the country. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles and Phoenix. For more information, please visit www.seefriedproperties.com.