IDI Closes 13-Acre Land Sale to Fortune 500 Company
65,000 Square-foot Technology and Training Center Development Planned for 2010
CHICAGO, March 15, 2010 – IDI’s Chicago market office recently closed a 13.5-acre/$3.5 million land sale with a Fortune 500 company at IDI’s Antioch Corporate Center located in Antioch, Lake County, IL. The company is the first occupant in the master-planned, 200-acre business park, which plans to develop a 65,000 square-foot facility to house one of its North American divisional headquarters.
“We’re pleased a Fortune 500 company has chosen land at Antioch Corporate Center to meet their operational and expansion needs,” said Tom George, senior vice president and regional development officer for IDI’s Chicago market office. “We believe the company will be an excellent addition to the Antioch business community.”
Antioch Corporate Center is built on 200 acres of land 1.5 miles west of Interstate 94 and Route 173 in the village of Antioch, about 40 miles north of Chicago. The company chose the site for its proximity to these major highways as well as Chicago’s O’Hare International Airport. Additionally, significant infrastructure and sustainable measures have been completed to support development at Antioch Corporate Center, which makes it an attractive property. This infrastructure includes water and sanitary main extensions, a 500,000-gallon elevated water tower, mass grading and roadway extensions. Sustainability features include walking trails, 47 acres of protected land for a wildlife habitat and storm water management. Naturalized landscaping and re-used storm water will reduce the need for lawn irrigation, fertilization and herbicide applications. Additional sites ranging from five to 100-acres remain available for purchase in Antioch Corporate Center. Other Lake County corporate residents include Abbott Laboratories, Motorola, Baxter International and Walgreen Company.
Jack Rosenberg and Fred Regnery of Colliers Bennett & Kahnweiler represented IDI in the deal. Mike Fonda of Avison Young Chicago and Frank Frizalone of Cushman & Wakefield represented the purchaser.
IDI is a leading, full-service real estate property company with a singular focus on industrial real estate. The company provides development, investment, property management and leasing services supported by eight market-focused offices. To date, IDI has delivered 63 world-class business parks, and developed and acquired 134 million square feet of space in the U.S., Canada and Mexico for a growing roster of national and international clients. IDI also manages a portfolio of just over 56 million square feet.
IDI’s investment portfolio, backed by domestic and international investors in the public and private sector, has total assets in excess of 25 million square feet. Assets are owned through a combination of development partnerships, long-term hold joint ventures and investment funds. For more information on IDI, visit www.idi.com.