Real estate developer and general contractor Northern Builders will develop a speculative 802,440-square-foot industrial facility in Joliet, Illinois, with joint venture partner Affinius Capital. The facility will be expandable to 1.2 million square feet.
Construction of the 40’ clear-height, state-of-the-art building is scheduled to commence next week. It will be able to accommodate up to 600 car parking stalls, 175 dock positions, and 178 trailer stalls. Additional land is also available adjacent to the facility for excess trailer parking.
“The ability to execute a speculative deal of this magnitude in such a challenging financial climate is a testament to the resilient demand and strong fundamentals of the I-80 Corridor,” said Matthias Trizna, VP of Development and Sales for Northern.
The project marks Northern’s fourth development to come out of the ground at Cherry Hill Business Park in 2024, surpassing more than 1.2 million square feet of combined warehouse, cold storage and maintenance facility product. Cushman & Wakefield’s Jason West, Sean Henrick and Ryan Klink will lead the leasing efforts on behalf of Northern.