Ryan Cos. JV Moves Forward with Chicago Industrial Park
Ryan Cos. has broken ground on a 160,000-square-foot industrial development in the South Side submarket of Chicago. This addition is the final phase of Pullman Crossings and is expected to come online in August next year.
The developer entered into a joint venture with Namdar Realty Group and Mason Asset Management for the project.
Pullman Crossings’ fourth and final speculative building will rise at 10800 S. Doty Ave. Plans call for 32-foot clear heights, ESFR sprinklers and designs intended to cater for multiple uses, such as distribution, warehousing and light manufacturing. Additionally, the building will have outdoor eating spaces and exterior bike racks.
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The 10-acre site is across Interstate 94 and allows easy access to Interstate 57, while being 19 miles from Chicago Midway International Airport and within 23 miles of Gary-Chicago International Airport.
Since 2017, Ryan Cos. developed three other industrial buildings at Pullman Crossings, encompassing 685,000 square feet. Two are used as distribution centers by Whole Foods and Amazon, while the third is a warehouse used by SC Johnson.
Chicago industrial pipeline dwindles
Chicago had nearly 7 million square feet of industrial space under construction as of October, according to a recent CommercialEdge industrial report. Among Midwestern markets, Chicago placed fourth, while Kansas City remained the leader with 11.7 million square feet underway.
Significant projects in the metro include Venture One Real Estate’s 2 million-square-foot built-to-suit project in Crown Point, Ind. The company received city approvals in March. In early November, Trammell Crow Co. started construction on the first building of Plainfield Business Center, which is slated to include more than 8 million square feet of space in Plainfield, Ill.
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