Seefried Properties Break Ground on New Distribution Facility in Mount Prospect, IL
Seefried Properties has begun construction on a new 80,053 square foot distribution facility in Mount Prospect, Illinois, strategically located near O'Hare Airport. This Class A facility will include features for freight-forwarding and air cargo warehousing. Within a week of breaking ground, World Courier Inc. has signed a lease for 34,011 square feet. With vacancy rates in Chicago at record lows, Seefried aims to expand its offerings in the Midwest, with 46,042 square feet still available for lease. The project showcases the company's ongoing commitment to developing industrial properties.
- Seefried Properties has signed a lease with World Courier Inc. for 34,011 square feet within one week of breaking ground.
- The new facility strategically positions Seefried in a high-demand area with record low vacancy rates in Chicago.
- None.
Project to Deliver 80,053K SF Along I-90 Corridor
MOUNT PROSPECT, Ill., June 21, 2022 /PRNewswire/ -- Seefried Properties, a national real estate firm specializing in the development, leasing and management of industrial properties, announce construction has commenced on a new 80,053-square-foot speculative distribution facility in Mount Prospect, Illinois. The Class A project is located in the heart of the O'Hare industrial submarket only 2.5 miles from the airport's North Cargo Gate and will be designed to accommodate freight-forwarding and air cargo warehousing. The endeavor confirms the fourteenth building Seefried has developed within the O'Hare market.
Within one week of breaking ground on the new facility, Seefried is pleased to announce its first lease has been signed. World Courier Inc., a world-class medical logistics company and wholly owned subsidiary of AmerisourceBergen (NYSE: ABC) has leased 34,011 square feet. Mike Feeney and Jay Cook with Cresa represented the tenant and Mike Sedjo, Jack Brennan, John Hamilton and Ben Dickey of CBRE represented Seefried in the transaction.
"With vacancy rates in Chicago reaching record lows, we're excited to bring new class A product to the market," said Dave Riefe, Senior Vice President of Seefried. "We continue to seek out infill locations in Chicago and the greater Midwest to provide supply for the growing demand."
An additional 46,042 square feet remain available for Q4 2022 occupancy. Marketing and leasing efforts for the project will be exclusively handled by CBRE. Principle Constructors is the General Contractor, Kimley-Horn is serving as the Civil Engineer and Harris Architects is the Architect of record. The rear-load industrial building will sit on 5.4 acres and will feature a 32' clear height, 16 exterior dock doors, ample car parking, 17 trailer stalls and prominent exposure on I-90.
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. Seefried leases and manages approximately 40 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of
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SOURCE Seefried Industrial Properties
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