Construction of $70M Clarius Park Joliet Underway, First Building Delivery Slated for 1Q 2013

CHICAGO—Development firm Clarius Partners L.L.C. has begun construction on Clarius Park Joliet, a $70 million, 2.47 million-sq.-ft. industrial business park in Joliet, Ill. Located on Youngs Road, plans include four Class A industrial facilities situated on a 185-acre infill land site.

The first phase of infrastructure has been completed, and the first building, totaling more than 1 million sq. ft., is under construction. Delivery of the first building is expected in the first quarter of 2013.

Upon completion, the first building will be situated on a 51.4-acre land site and will include 32-ft. clear ceiling heights, 50-ft. by 52-ft. column spacing and 75-ft. speed aisles. The building is being designed to earn LEED certification by the U.S. Green Building Council.

Divisible to plus/minus 400,000 sq. ft., the building will include 120 dock positions, 326 trailer parking spaces, 190-ft. truck courts, four drive-in doors, and 308 automobile parking spaces.

The remaining three lots within Clarius Park Joliet range from 13 to 45 acres and can accommodate buildings from 200,000 sq. ft. to 1 million sq. ft. and buildings will be built-to-suit. Construction for these sites will commence upon securing a tenant.

The speculative development is located in close proximity to I-55 and I-80 interchange.

“This is a location-driven project,” said Kevin D. Matzke, managing principal of Clarius Partners. “On a national level, Chicago factors into almost every large industrial user’s logistics model due to its large population, geographic centrality and the fact that all Class 1 rail lines converge in Chicago. On a regional level, Joliet makes perfect sense, since it is located less than 50 miles from downtown Chicago, it is the crossing point between Interstates 55 and 80, and it is located very close to both the BNSF and UP intermodal facilities.”

Clarius Partners is managing the development of the project on behalf of an institutional owner. Colliers International’s Vernon Schultz, executive vice president, and Dominic DeRose are providing brokerage services for the property.

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