CBRE to market Compass Global Logistics Hub

JOLIET - NorthPoint Development is set to launch Compass Global Logistics Hub in Joliet, a $1.7 billion investment that will create thousands of new jobs and deliver much-needed logistics space to the region, as demand for distribution networks and e-commerce surges.

CBRE has been retained to list the 1,262-arce park, which will include warehouse, distribution, and light manufacturing space.

NorthPoint recently closed on the last of the properties it needs to build the facility and is currently marketing the project with bids for construction on the first buildings having recently been issued.

Located in south Joliet, the master-planned development is strategically located and designed to meet growing freight and transportation needs of North America's largest inland port, which features the UP and BNSF intermodal facilities that are expanding to accommodate the growing e-commerce industry. The development supports the reliance upon and growth of the new economy and serves as an essential supply-chain hub that is critical to the efficient delivery of goods to some 85 million consumers in the Midwest.

Along with the growth in the intermodals, the convergence of I-55 and I-80 near the site provides multistate access and a strategic hub for distribution networks.

"With limited sites currently available near the intermodals, interest in Compass Global Logistics Hub has increased dramatically as home delivery needs have skyrocketed," said CBRE Executive Vice President Traci Buckingham Payette.