Dermody Properties Statement About Agreement with Allstate Insurance Company
Dermody Properties has entered into an agreement with Allstate Insurance Company (Allstate) to acquire its corporate campus in Northbrook, Ill. Our intent is to redevelop the 232-acre site into a logistics-focused campus from which e-commerce and omni-channel retail companies can serve their customers quickly and efficiently. We plan to construct best-in-class logistics buildings with the most up-to-date, energy-efficient designs and using best practices of sustainable construction.
The project design will incorporate highly attractive exteriors and will benefit from the repurposing of existing mature landscaping and ponds to ensure the new development seamlessly integrates into the community from a visual perspective. Whenever possible, the majority of the project’s building layouts will be intentionally designed to consolidate truck traffic within the internal section of the campus. In addition, we anticipate project traffic counts at full buildout are likely to be lower than the peak usage of the existing office campus.
The conversion of the office campus–with buildings dating back to the 1960s and 70s–to modern logistics buildings offers additional benefits to the community. We believe the new campus, when fully complete, will result in increased tax revenue for the local taxing districts–including school districts–compared to the existing campus structures. The redevelopment will create a significant number of competitive, high-paying construction and long-term jobs in the highly sustainable contemporary logistics industry.
The campus is located on Sanders Road, adjacent to Interstate 294 and southwest of the Willow Road interchange. The project benefits from the existing ground transportation infrastructure which was sized for the prior office campus use. The project’s adjacency to the mature ground transportation infrastructure will mitigate traffic impact on neighboring residential streets.
Dermody Properties is looking forward to serving the needs of our customers in a manner consistent with the interests of the surrounding community and other stakeholders.
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $6.2 billion of total capital across all platforms nationwide, having acquired and developed approximately 100 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. For more information, visit www.Dermody.com.
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