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Dermody Properties Acquires 232-Acre Allstate Campus for Redevelopment as Logistics Hub
Dermody Properties completed the acquisition of the Allstate Corporation corporate campus in Glenview, IL. The 232-acre site will be redeveloped into a 10-building logistics park totaling 3,235,020 available square feet with flexibility to accommodate build-to-suits.
“This redevelopment project stands at the intersection of two significant and durable trends – work from home and e-commerce,” said Douglas A. Kiersey, Jr., president of Dermody Properties. “The conversion of the office campus – with buildings dating back to the 1960s and ’70s – into modern logistics buildings offers many benefits to the community.
“The Logistics Campus will create a significant number of competitive, high-paying construction and long-term jobs in the highly sustainable contemporary logistics industry,” he continued. “Additionally, it lays the groundwork for world-class companies to be part of this region.”
The project will benefit from the existing ground transportation infrastructure, which was sized for prior office campus use, Dermody said.
- ◦Sale/Acquisition
- ◦Development
