Hillwood is changing a big piece of farmland in Geneva, Unwell., into a serious Class A industrial improvement. The developer broke floor on Fox Valley Commerce Middle, a four-building venture that will probably be break up into two phases. Hillwood is aiming to finish building on section one in late 2023.
The developer tapped Harris Architects Inc. because the venture’s architect, whereas FCL Builders will probably be tasked with constructing Fox Valley Commerce Middle. Hillwood additionally appointed the Lee & Associates staff of Nick Eboli, Jeff Janda and Andrew Block to market and lease the economic property.
Upon completion, Fox Valley Commerce Middle will whole greater than 1 million sq. toes. The primary section will embody the 266,760-square-foot Constructing 1 and the 272,160-square-foot Constructing 2. In accordance with Hillwood, the second section will enable for a build-to-suit alternative of as a lot as 500,000 sq. toes.
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Positioned at 2088 Geneva Drive, Fox Valley Commerce Middle will probably be positioned between IL-38 and IL-64, simply 9 miles north of Interstate 88. The commercial facility’s location makes it excellent for tenants seeking to meet distribution wants within the Midwest because it’s located close to the DuPage County Airport, whereas additionally being roughly 40 miles away from Chicago. Fox Valley Commerce Middle can be inside a day’s drive of greater than one-third of the U.S. inhabitants, based on Hillwood.
From farm to industrial facility
Hillwood acquired the 75-acre web site earlier this yr in July from a neighborhood household. Don Schoenheider, govt vp & Midwest market chief at Hillwood, mentioned in ready remarks that the agency is planning to remodel the parcel of farmland right into a improvement that can profit the group, including that the Fox Valley Commerce Middle will meet a quickly rising demand for contemporary logistics services within the Midwest.
Greater than an hour away, Hillwood can be engaged on the primary section of its Route 66 Logistics Park in Elwood, Unwell. In accordance with the corporate, the two.5 million-square-foot enterprise park is without doubt one of the largest out there tracts of land within the submarket. Exterior Illinois, Hillwood beforehand construct a 232,600-square-foot industrial facility in Colton, Calif., which was ultimately acquired by Brookfield Properties in Could 2021.
