Seefried Properties Break Ground on New Distribution Facility in Mount Prospect, IL

Project to Deliver 80,053K SF Along I-90 Corridor

MOUNT PROSPECT, Ill., June 21, 2022 /PRNewswire/ -- Seefried Properties, a national real estate firm specializing in the development, leasing and management of industrial properties, announce construction has commenced on a new 80,053-square-foot speculative distribution facility in Mount Prospect, Illinois. The Class A project is located in the heart of the O'Hare industrial submarket only 2.5 miles from the airport's North Cargo Gate and will be designed to accommodate freight-forwarding and air cargo warehousing. The endeavor confirms the fourteenth building Seefried has developed within the O'Hare market.

Within one week of breaking ground on the new facility, Seefried is pleased to announce its first lease has been signed. World Courier Inc., a world-class medical logistics company and wholly owned subsidiary of AmerisourceBergen (NYSE: ABC) has leased 34,011 square feet. Mike Feeney and Jay Cook with Cresa represented the tenant and Mike Sedjo, Jack Brennan, John Hamilton and Ben Dickey of CBRE represented Seefried in the transaction.

"With vacancy rates in Chicago reaching record lows, we're excited to bring new class A product to the market," said Dave Riefe, Senior Vice President of Seefried. "We continue to seek out infill locations in Chicago and the greater Midwest to provide supply for the growing demand."

An additional 46,042 square feet remain available for Q4 2022 occupancy. Marketing and leasing efforts for the project will be exclusively handled by CBRE. Principle Constructors is the General Contractor, Kimley-Horn is serving as the Civil Engineer and Harris Architects is the Architect of record. The rear-load industrial building will sit on 5.4 acres and will feature a 32' clear height, 16 exterior dock doors, ample car parking, 17 trailer stalls and prominent exposure on I-90.

Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. Seefried leases and manages approximately 40 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of $17 billion across 120+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit www.seefriedproperties.com

SOURCE Seefried Industrial Properties