Conor completes speculative development in Elgin
ELGIN -- Conor Commercial Real Estate and partner, Globe Corporation, have completed development of Northwest Pointe III, a speculative industrial building project in Elgin.
The development consists of two buildings that have a combined total of 349,080 square feet and can accommodate either a single or multiple tenants. The property marks Conor's third development in Elgin's sold-out Northwest Corporate Park.
Situated on a 20.54-acre corner lot, Northwest Pointe III offers high visibility from Higgins and Galvin roads. The site is located 1.5 miles from the Randall Road four-way interchange, giving tenants direct access to I-90. The property is also in proximity to the many shops and restaurants along Randall Road.
Both buildings feature a metal steel frame with a precast concrete exterior and clerestory windows that provide natural lighting in the office entrances. Building One incorporates 163,080 square feet and 145 parking spaces, while the slightly larger Building Two has a total of 186,000 square feet with 239 parking spaces.
The buildings also feature office space to suit, 50-by 52-foot bay spacing, a 32-foot clear height, an ESFR sprinkler system, and 20 dock doors that are expandable to 28 with two drive-in doors in each building.
"The Elgin submarket experienced heavy sustained user demand over the last 18 months, pushing the vacancy rate to an all-time low of 2.5% as of the end of the third quarter," remarked Brian Quigley, executive vice president of Rosemont-based Conor. "Our development team identified Elgin early on as an undersupplied industrial submarket and launched Northwest Pointe III last winter so that we would be the first development completed in 2019."
The design/build team of McShane Construction Company and Ware Malcomb provided the comprehensive design and construction services for Northwest Pointe III.