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CA Industrial Launches Build of First Chicago-Area Project
Chicago-based CA Industrial, the industrial investment and development division of CA Ventures, has started construction on CA Elk Grove, a 146,029-square-foot speculative Class A warehouse in Elk Grove Village, IL. CA’s first Chicago-area industrial project since launching CA Industrial is scheduled for completion in early 2020.
“We selected a site in one of the best possible locations for an industrial project in the Chicago metro: the O’Hare submarket,” said CA Industrial EVP Jim McGill. “The proximity to the I-390, I-290 and O’Hare – and the visibility on Devon Avenue – will be a draw for airfreight companies and also higher-image, employee-intensive companies that benefit from the visibility and excellent access to the major interstates and roadway systems.”
Citing Colliers International’s second-quarter industrial market report, McGill noted the O’Hare submarket’s vacancy rate was at a historic low of 3.62%, and that new leasing volume was significant in the year’s first two quarters.
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