NAI Hiffman assists in sale of site to DCT Industrial

ROMEOVILLE - NAI Hiffman recently completed the sale of 5 Greenwood Avenue in Romeoville to DCT Industrial.

Terms of the sale were not announced.

DCT Industrial acquired the 8.3-acre property from a private seller and has already begun demolition of the existing structures. DCT Industrial plans to develop a 140,100-square-foot, state-of-the-art speculative building with delivery slated for the fourth quarter of 2017.

"DCT is continuously looking for unique and creative ways to create value, specifically in land-constricted areas such as the I-55 Corridor submarket," said Todd Vezza, a Senior Vice President at DCT Industrial. "The acquisition of this landside provides us with an excellent opportunity to develop a modern distribution building in an extremely high-demand location."

The new building, located within the I-55 corridor, will feature 32-foot ceiling height, 24 exterior docks, 4 drive-in doors, 137-car parking spaces, and will be divisible.

"There are very limited opportunities for new development in the I-55 corridor due to the lack of remaining land sites," said Mark Moran, an executive vice president at NAI Hiffman. "At the same time, user demand continues to be strong from companies in the area looking for state-of-the-art facilities. The 5 Greenwood Ave. site provides DCT the opportunity to satisfy this demand. We are excited to represent DCT on this project."

Moran, along with NAI Hiffman Associate Broker Brett Tomfohrde and Executive Vice President Steve Connolly, SIOR, represented the seller in this transaction. In addition, the team will be handling the leasing efforts on behalf of DCT Industrial.