Brandon Stengel – Farm Kid Studios
The Opus Group (Opus) announced plans to construct a 111,345-square-foot speculative industrial development located in the Interstate 55 industrial corridor in Romeoville. This will be the second and final phase of its project at the Paragon Business Park after successfully constructing and selling two other speculative industrial developments in 2016.
“We’re excited to build on the success of our first two buildings in the park and continue to be one of the only developers in the entire submarket able to provide an opportunity for end users to purchase a Class A building, new or existing,” said Matt Kurucz, senior manager, real estate development, Opus Development Company, L.L.C. “The I-55 corridor continues to prove itself as a highly sought after location for industrial tenants and institutional investors will continue to dominate the ownership of the nearly 80 million square feet of inventory. As such, there is ample opportunity for Opus to offer a unique solution to tenants seeking new space.”
The 111,345-square-foot building will feature 30-foot clear height and can accommodate a single user or up to three tenants. Additionally, the building will have 12 loading docks (expandable to 28), 16 trailer parking positions against the building, up to 88 car parking spaces and an ESFR (Early Suppression Fast Response) sprinkler system.
Opus’ recent portfolio of work includes more than 6.8 million square feet of industrial developments currently under construction or completed in the past 24 months across the United States, including 1325 Remington in nearby Bolingbrook, Illinois.
Construction of 101 Paragon is scheduled to begin this spring with completion in late August 2017. Opus Development Company, L.L.C. will be the developer, Opus Design Build, L.L.C. will be the design-builder and Opus AE Group, L.L.C. will be the architect and structural engineer of record. Jason West and Sean Henrick of Cushman & Wakefield will market the property for lease.