Northern Builders, in partnership with Affinius Capital, announced a long-term lease agreement for a 1,200,000-square-foot industrial facility at Cherry Hill Business Park in Joliet, Illinois.
The undisclosed tenant was represented in the transaction by Adam Mitchell and Matt Carolan of JLL, and Northern Builders was represented by Jason West, Sean Henrick, and Ryan Klink of Cushman & Wakefield.
Originally delivered as an 800,000-square-foot speculative shell in December, the state-of-the-art development will be expanded to include approximately 400,000 square feet of convertible freezer-cooler space and feature 21,000 square feet of office space, 140 equipped docks, 316 off-building trailer stalls, 464 car parking stalls and a clear height of 40 feet.
Northern recently completed several ground-up development projects, including a 200,000-square-foot cold storage distribution center for Agile Cold Storage, and is midway through construction on a 365,000-square-foot build-to-suit. “We continue to see strong demand for larger-footprint specialized assets in this submarket from users in the cold storage, manufacturing, and processing sectors,” said Matthias Trizna, VP of Development for Northern Builders.
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