{"id":1004719303,"date":"2024-06-28T04:08:38","date_gmt":"2024-06-28T12:08:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004719303"},"modified":"2024-06-28T04:39:05","modified_gmt":"2024-06-28T12:39:05","slug":"dermody-breaks-ground-on-2-4-msf-chicagoland-logistics-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dermody-breaks-ground-on-2-4-msf-chicagoland-logistics-park\/","title":{"rendered":"Dermody Breaks Ground on 2.4 MSF Chicagoland Logistics Park"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LogistiCenter-at-Pleasant-Prairie-groundbreaking-ceremony-e1719576245735.jpg\"><img decoding=\"async\" data-attachment-id=\"1004719355\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dermody-breaks-ground-on-2-4-msf-chicagoland-logistics-park\/logisticenter-at-pleasant-prairie-groundbreaking-ceremony\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LogistiCenter-at-Pleasant-Prairie-groundbreaking-ceremony-e1719576245735.jpg\" data-orig-size=\"1066,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"LogistiCenter-at-Pleasant-Prairie-groundbreaking-ceremony\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LogistiCenter-at-Pleasant-Prairie-groundbreaking-ceremony-e1719576245735.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/LogistiCenter-at-Pleasant-Prairie-groundbreaking-ceremony.jpg\" alt=\"LogistiCenter at Pleasant Prairie groundbreaking ceremony\" class=\"wp-image-1004719355\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Several Dermody executives and WestRock officials attended the groundbreaking ceremony.<em> Image courtesy of Dermody Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Dermody Properties has broken ground on LogistiCenter at Pleasant Prairie, a 2.4 million-square-foot logistics park in Pleasant Prairie, Wis., as it secured the property&#8217;s first tenant. WestRock signed a build-to-suit lease for a more than 580,000-square-foot facility at the site, with delivery expected in 2025.<\/p>\n\n\n\n<p>Westrock, a sustainable packaging manufacturer, announced plans for the estimated $140 million development early this year. The company intends to shut down its current plant in North Chicago upon the new facility&#8217;s completion.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/boosting-u-s-manufacturing-spurs-construction-boom\/\">Boost in US Manufacturing Spurs Construction Boom<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Dermody purchased the park&#8217;s 232-acre site, previously home to a We Energies power plant,&nbsp;in September 2023. The acquisition also included the property&#8217;s redevelopment plans, which initially comprised three buildings of 593,565 square feet, 675,200 square feet and 1.1 million square feet, respectively.<\/p>\n\n\n\n<p>Standing as Wisconsin&#8217;s only rail-served logistics park, LogistiCenter at Pleasant Prairie will be able to accommodate build-to-suits from 250,000 square feet to&nbsp;1.8 million&nbsp;square feet and will feature flexible clear heights, trailer parking, fresh water service from Lake Michigan and a 345 KV transmission line available for direct connectivity. <\/p>\n\n\n\n<p>Dermody Properties has invested more than&nbsp;$10 billion&nbsp;of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. The company currently has multiple properties available in the Midwest region totaling 3.6 million square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chicago-s-industrial-market-stands-out\">Chicago&#8217;s industrial market stands out<\/h2>\n\n\n\n<p>Located at 8000 95th St., the site is near Interstate 94, which allows easy access across the downtown Milwaukee and Chicago. The property is also adjacent to the 1,496-acre LakeView Corporate Park.<\/p>\n\n\n\n<p>Chicago ranked fourth among leading U.S. industrial markets with 10.8 million square feet of space under construction in May, according to <a href=\"https:\/\/www.commercialedge.com\/blog\/national-industrial-report\/\">a recent CommercialEdge report<\/a>. The Windy City also stood out for industrial transactions, registering the largest sales volume in the Midwest year-to-date as of May, at $910 million.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Completion of the first facility is expected in 2025.<\/p>\n","protected":false},"author":3014,"featured_media":1004719355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21782,21748,13,21742],"tags":[36664,34307],"class_list":["post-1004719303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-development","category-industrial","category-midwest","category-latest","tag-dermody-properties","tag-westrock"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dermody Breaks Ground on 2.4 MSF Chicagoland Logistics Park - 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