CHICAGO – The Opus Group (Opus) announced plans today to construct two speculative industrial buildings in the Paragon Business Park, located off Taylor Road in Romeoville, Illinois. Upon completion, the project will create approximately 255,000 square feet of new Class A industrial space in Chicago’s I-55 industrial submarket with an additional 7-acre site that can accommodate build-to-suits up to 115,000 square feet. The 22-acre site was purchased from First American Properties and construction will begin this fall.
“Low vacancy rates and the lack of available stand-alone 100,000- to 200,000-square-foot buildings reinforce that there is demand for this type and size of space in this location, especially for users looking to purchase their own facility,” said Matt Kurucz, real estate manager for Opus Development Company, L.L.C. “We’re excited to launch this project and meet the needs of prospective tenants and user-buyers within the I-55 corridor.”
The two speculative buildings will be approximately 133,800 and 121,200 square feet, respectively, and will be completed in the summer of 2015. The buildings are designed to meet the needs of either single- or multi-tenant occupancy for businesses drawn to the I-55 industrial corridor’s ideal location for the manufacturing, logistics and intermodal freight industries.
All three buildings will feature 30-foot clear heights, 40-foot by 50-foot structural bays, ESFR sprinkler systems, abundant car and trailer parking and ample dock doors. Each building can also offer fully secured truck courts.
Opus Development Company, L.L.C. is the owner and developer. Opus Design Build, L.L.C. is the design-builder and Opus AE Group, L.L.C. is the architect and structural engineer of record.
Terry Grapenthin and Jeff Galante of Lee & Associates represented First American Properties in this transaction. Opus was represented by Jason West and Sean Henrick of Cushman & Wakefield.
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; sales and leasing. 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 office, industrial, retail, institutional, residential and government 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.