Third Party Logistics Company to Relocate to 1.1 Million-SF Build-to Suit in Greater Chicago
In the largest industrial lease transaction signed in the Midwest year-to-date, Saddle Creek Logistics has agreed to relocate its Illinois operations to a new 1.11 million-square-foot build-to-suit in Joliet, IL.
The new distribution facility will be developed on a 60-acre site within the CenterPoint Intermodal Center, a 3,600-acre inland port that provides immediate access to the Union Pacific Joliet Intermodal Terminal (JIT) and BNSF Logistics Park Chicago (LPC).
The $43 million facility will feature a 32-foot clear height, 132 dock doors, four drive-in bays, 328 trailer stalls and 15,000 square feet of office space. The project is expected to create roughly 250 jobs with 200 workers to stay on and work out of the warehouse.
A third-party logistics company headquartered in Lakeland, FL, Saddle Creek will nearly double its footprint from the 590,000-squre-foot space it currently occupies at 21051 W. Walter Strawn Dr. in nearby Elwood, IL, affording a more efficient floorplan and space to accommodate future growth.
Saddle Creek's deal jumps Pacific Architects and Engineers' (PAE) 723,291-square-foot lease in Romeoville as the largest industrial lease signed in Illinois in 2015 and registers as the second largest industrial lease signed in the U.S. this year, following only Google Fiber's 1.3 million-square-foot lease
signed earlier this quarter at the Fairburn Logistics Center in greater Atlanta.
Newmark Grubb Knight Frank's Senior Managing Director Jack Cozzie, in collaboration with Senior Vice President Ladson Montgomery of Newmark Grubb Phoenix Realty Group, represented Saddle Creek, while NAI Hiffman Executive Vice Presidents Dan Leahy and Adam Roth represented CenterPoint in the transaction.
Saddle Creek Logistics is scheduled to relocate to its new facility by February 2016.