The Opus Group (Opus) announced today the start of construction on two speculative industrial buildings, Tollway Corporate Center, in Chicago's I88 submarket. Designed to meet a wide variety of modern distribution and manufacturing needs, the buildings will be able to accommodate a single user or multiple tenants with convenient access to Interstate 88 via Route 31. The development is a joint venture with Principal Real Estate Investors.
“We're looking forward to continuing our partnership with the Village of North Aurora and delivering another industrial development to the region," said Michael Robinson, senior director of real estate development. “Tollway Corporate Center builds on Opus' past success with similar product types in the market, including North Aurora II and I-88 Gateway Logistics Center, and will meet the demand for additional industrial space."
Located on Overland Drive, the first building will total 104,978 square feet and offer 10 dock positions, two drive-in doors, 32-foot clear height, eight trailer stalls and 64 parking stalls with an opportunity to expand. The second building will total 543,638 square feet with the opportunity to expand to more than one million square feet and will offer 54 dock positions, four drive-in doors, 36-foot clear height, 90 trailer stalls and 142 parking stalls. Both buildings are slated for completion in June 2022.
“We've worked alongside Opus' integrated team on several industrial and multi-family projects and are excited about the opportunity that this two-building development will bring to North Aurora. This development will benefit the area by bringing new industrial supply to meet the high demand for this product, while providing new job opportunities," said David Straka, managing director, Principal Real Estate Investors.
Opus is the developer, design-builder, and architect and engineer of record. Brian Kling of Colliers and Dan Leahy of NAI Hiffman are currently marketing the speculative project for lease.About Principal Real Estate Investors:
“We're looking forward to continuing our partnership with the Village of North Aurora and delivering another industrial development to the region," said Michael Robinson, senior director of real estate development. “Tollway Corporate Center builds on Opus' past success with similar product types in the market, including North Aurora II and I-88 Gateway Logistics Center, and will meet the demand for additional industrial space."
Located on Overland Drive, the first building will total 104,978 square feet and offer 10 dock positions, two drive-in doors, 32-foot clear height, eight trailer stalls and 64 parking stalls with an opportunity to expand. The second building will total 543,638 square feet with the opportunity to expand to more than one million square feet and will offer 54 dock positions, four drive-in doors, 36-foot clear height, 90 trailer stalls and 142 parking stalls. Both buildings are slated for completion in June 2022.
“We've worked alongside Opus' integrated team on several industrial and multi-family projects and are excited about the opportunity that this two-building development will bring to North Aurora. This development will benefit the area by bringing new industrial supply to meet the high demand for this product, while providing new job opportunities," said David Straka, managing director, Principal Real Estate Investors.
Opus is the developer, design-builder, and architect and engineer of record. Brian Kling of Colliers and Dan Leahy of NAI Hiffman are currently marketing the speculative project for lease.
About The Opus Group:
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries:
Opus Development Company, L.L.C.,
Opus Design Build, L.L.C. and
Opus AE Group, L.L.C. Specializing in industrial, office, residential, student living, senior living, institutional and retail projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit
www.opus-group.com and follow
@TheOpusGroup on Twitter and
@theopusgroup on Instagram.
About Principal Real Estate Investors:
Principal Real Estate Investors manages or sub-advises $96.0 billion in commercial real estate assets (as of June 30, 2021). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of
Principal Global Investors, a diversified asset management organization and a member of the
Principal Financial Group®.