Venture One and Clayco Break Ground on 3M's New Distribution Center in Park 88
CHICAGO, IL Co-developers Venture One Real Estate and Clayco broke ground on a 978,120-square-foot distribution center in DeKalb, Illinois. Upon completion, this facility will serve as the largest logistics center for 3M in the United States.
A joint venture between Clayco and Venture One, the 3M distribution center is part of Park 88 in DeKalb, a 465-acre development located at the northwest corner of the intersection of Peace Road and Fairview. This is the third expansion by 3M in Park 88 throughout the last 10 years. Clayco will serve as the design builder and Forum Studio will act as the architect on the project. Wells Fargo will provide the construction funding.
"Just as 3M is dedicated to growth in the 1-39 corridor, we are also committed to economic development in this area," said Mark Goode, Principal at Venture One. "This distribution center will employ a substantial number of local workers to the area."
"Thank you to all of the local leaders and community officials for their cooperation in this significant project as well as your past support over our rich history of 30 years of operations in the DeKalb area," said Darcie Peters, Distribution Campus Manager at 3M.
The firm Cushman & Wakefield represented Park 88, with Jason West and Sean Henrick as the brokers. CRESA represented 3M, with Gary Gregg and Michael Gordon serving as brokers. The facility is set to be complete in the summer of 2016.
3M is a multinational, diversified technology company with a global presence in a variety of markets - from health care and highway safety to office products and abrasives. 3M's Park 88 center is a key transportation hub for the company, with its convenient access to multitude of local airports and its placement along the 1-39 logistics corridor.