Logistics Property acquires 28 acres for new distribution facilities
BARTLETT -- Newmark Knight Frank recently represented Logistics Property Company in its acquisition of a 28-acre site at the entrance of Brewster Creek Business Park in Bartlett.
Terms of the acquisition were not announced
The parcel will be developed into two distribution facilities totaling 414,000 square feet.
Brewster Creek, at the intersection of Stearns Road and Munger Road, is a 670-acre mixed-use business park. It features sites ranging from two acres to more than 50 acres for purchase, build-to-suit or lease.
NKF Senior Managing Director Adam Marshall, SIOR, CCIM, Executive Managing Director Brian Carroll and Director Mark Deady, CCIM, represented LPC in the land acquisition and were also hired to market and lease the two state-of-the-art facilities, which will be built simultaneously.
"These two facilities will be the ideal size and location to satisfy the current demand in this submarket," said Marshall. "The site will also benefit from its proximity to the Illinois 390 Elgin-O'Hare Expressway, I-90, I-88 and its great visibility."
Both 207,000-square-foot buildings will break ground by the end of the month with a target completion date of January 2020.