Another logistics building proposed for Glenview
A new LogistiCenter industrial development is proposed for the former CVS Caremark office building site at Sanders Road and the Interstate 294 Expressway.
The Glenview New Development Commission will review the proposal by Dermody Properties at 7 p.m. Sept. 27 at the Glenview Village Hall, 2500 E. Lake Ave.
The proposal is to develop three lots spanning 18 acres, 2215-2245 Sanders Road, into a "logistics-focused building to serve modern industrial businesses and customers," according to the project's executive summary. It's meant for single or multiple-tenant occupancy.
Though the postal address is in Northbrook, Glenview is the municipal authority, Northbrook Village Manager Cara Pavlicek said.
A proposed site plan shows a 294,783-square-foot building, plus 282 parking spaces, 32 truck docks and 24 interior bays. Three detention ponds of differing sizes are between Sanders Road and the new building.
Dermody seeks rezoning to a I-2 light industrial district from I-1 limited commercial designation, as well as a variance for a single-story height of 44.75 feet. Dermody also seeks a Class 6b tax incentive to build the LogistiCenter of Glenview.
Neal Driscoll, Dermody Midwest region partner, said the new building would be similar in style and use and "in-line with the Logistics Campus" at the former Allstate property.
That development, which broke ground last October, planned for 10 buildings covering 3.2 million square feet over 232 acres.
Dermody looks for work on the LogistiCenter to start after demolition of existing office buildings in the first quarter of 2024, the executive summary read. Site construction will start in the spring of 2024 on a speculative basis; the building will be marketed during and after construction.
On Sept. 14, Upside Foods, a California-based cultured meat company, announced it would build a production plant in one of the 10 buildings planned for Logistics Campus at the former Allstate site.
Also constructed on a speculative basis, Upside Foods is the Logistics Campus' first tenant.
An Upside Foods release said the company would lease 187,000 square feet in one of the warehouses. A planned investment of $140 million, it would create 75 jobs. Founded in 2015, it is Upside's first large-scale cultivated meat production plant.
"Upside Foods will be a great addition to the village's robust and growing local economy," said Glenview Village President Mike Jenny.
A Dermody spokesperson contacted about the LogistiCenter noted Crain's Chicago Business reported the former CVS Caremark office building at 2211 Sanders Road was put up for auction in 2022 and purchased by a Schaumburg firm for $2.3 million.
An adjacent office building, 2215 Sanders Road, was sold around the same time for $2.2 million to Michigan-based Farbman Group, Crain's reported.
Dermody does not disclose purchase prices, the spokesperson said.
"Both properties were bought, largely vacant and at auction, by third parties near the end of 2022," Driscoll said. "The owners, consequently, reached out to us, asking if we'd like to buy it. It works well for a single building."