Conor Commercial Real Estate Launches Northwest Pointe II Speculative Industrial Development
ROSEMONT, IL David J. Friedman, President of Conor Commercial Real Estate, a member of The McShane Companies, announces the development of Northwest Pointe II, a new, 385,300-square-foot single-tenant or multi-tenant speculative industrial facility. This well-positioned development, located near the intersection of Galvin and Higgins Roads in Elgin, Illinois, is situated on a 22-acre parcel within Northwest Corporate Park and offers direct access to I-90 via the Randall Road four-way interchange located within 1.5 miles of the property. The premier speculative facility is available for lease or sale with occupancy scheduled for November of 2016.
Northwest Pointe II has been designed to offer single-tenant or multi-tenant suites ranging in size from 65,000 square feet to 385,000 square feet. The building features an efficient cross-dock configuration with a 32-foot clear height, 38 dock-high doors, four drive-in doors, an ESFR sprinkler system and customizable office options to suit tenant requirements. The industrial project also provides optimal truck maneuverability with 130-foot courts and parking for 386 vehicles.
The exterior of Northwest Pointe II will complement the contemporary industrial space offered within the Class A facility. The building will utilize a modern design and color scheme with a precast panel concrete exterior. The faÃ§ade at the office entrances will feature attractive spandrel glass and a metal mesh steel frame over inset siding giving a unique finish.
Northwest Pointe II follows the successful development of the original Northwest Pointe, a 342,620-square-foot speculative industrial facility that has been subsequently 100-percent leased and sold. The continued velocity of leasing activity and the depletion of existing industrial inventory within the North Kane County/I-90 market has provided the opportunity to develop this additional speculative industrial property within the master-planned Northwest Corporate Park. Elgin's low real estate taxes together with Northwest Pointe II's immediate access to the local, regional and national markets via the interstate system were factors in launching the second property as a speculative opportunity. The area is currently home to a growing number of prominent businesses including Motorola, Illinois Tool Works (ITW) and Chase Card Services, among others.
"We are thrilled to announce the second phase of development with the launch of Northwest Pointe II," said Friedman. "Conor Commercial recognizes this superior Class A opportunity for new industrial distribution/warehouse space within the Chicago suburban market. We are confident that Northwest Pointe II will enjoy the same robust interest and leasing activity as the previous Northwest Pointe development due to the advantages offered by this prestigious location, fast-track occupancy opportunity and competitive lease rates within the I-90 corridor market area."
Kenneth P. Franzese, Principal, and John T. Cassidy, SIOR, Principal, of the Rosemont, Illinois, office of Lee & Associates are serving as the exclusive marketing agents for Northwest Pointe II. The design/build team of McShane Construction Company and Ware Malcomb is providing the comprehensive design and construction services for the new development.