Original Post: www.rejournals.com ¦ Reprinted by: Cawley Chicago 6/27
Column by Hugh Williams, Principal, Avison Young | Chicago
As the mid-point of 2016 approaches, Chicago’s industrial market continues to benefit from strong user demand, especially in distribution and warehousing sectors. This is particularly true in the I-55 corridor, where developers are pushing the geographic boundaries to find land for new buildings.
This submarket has long been a mainstay of big box users locating in Joliet, Bolingbrook and Romeoville to tap into Chicago’s high caliber labor force, strong distribution network and proximity to large population centers. With vacancy rates low and demand still going strong, large users are increasingly more challenged to find suitable spaces – or land for development – along I-55 and surrounding transportation routes.
Where Will and Grundy counties meet is the most viable big-box location within the Chicago Metro area. There is immediate access to America’s second longest transcontinental highway, I-80 and to I-55, which connects the Gulf of Mexico to the Great Lakes. Further differentiating this area is the proximity to the largest concentration of rail/intermodal capability in the US. These rail sites include CenterPoint’s 3,600-acre facility in Joliet, the 785-acre Union Pacific-Joliet Intermodal Terminal in Joliet, and BNSF’s 621-acre Logistics Park in Elwood.
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