Duke Realty Speculative Development Start Boosts Chicago Portfolio
Planned ~300K SF Facility is Located in I-290 North Submarket with Robust Workforce
The Chicago office of Duke Realty (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, recently announced the construction of a 299,520-square-foot speculative development in Bellwood, Illinois. The planned state-of-the-art facility is located within minutes of O’Hare International Airport, close to major thoroughfares and rail lines — serving as an ideal location for prospective tenants looking to expand supply chain capabilities.
“As finding conveniently-located, modern distribution space continues to be a challenge for tenants, so is finding a strong labor force. Our planned facility meets both demand drivers,” said Susan Bergdoll, senior vice president and regional leader for Duke Realty’s Chicago, Minneapolis and Indianapolis operations. “Projects like this accommodate potential tenants’ requirements for new warehouse space close to airports, interstate highways, and rail yards in a community with a robust talent pool.”
Duke Realty’s development on approximately 19 acres at 110 North 25th Avenue in Bellwood is located within seven miles of Chicago’s O’Hare International Airport, close to the I-290/294 and I-88 interchanges and adjacent to a Union Pacific rail line. The facility will boast 36’ clear height, 30 dock doors and two drive-in doors, 85 trailer spaces and 345 parking spaces and located within an Enterprise Zone. Additionally, Bellwood is within a 30-minute drive of an employee population of more than one million. The development is expected to be complete in December 2021. These facilities will be built to LEED® certification standards.
“Duke Realty’s sustainable development strategy aligns with our customers’ sustainability goals,” said Bergdoll. “As we pursue strategic growth opportunities in the Chicagoland area, we are focused on infill locations, like what we have found in Bellwood, where we can develop our LEED certified, best-in-class facilities that we are known for.”
The listing brokers are Jason Lev and John Suerth with CBRE.
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 162 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube
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