IRG Acquires Former Caterpillar Campus Near Joliet
Industrial Realty Group (IRG), headquartered in Los Angeles, has acquired a 1.47-million square foot industrial site just outside Joliet, in Rockdale, IL. The site was the former home of Caterpillar’s hydraulic manufacturing operations.
The 69-acre property includes several buildings along the Des Plaines River. The largest building is 1.3 million square feet, with 65,384 square feet of office space.
“It’s very well-positioned in southwest Chicago’s Will County, home of the nation’s largest inland port,” said Peter Goffstein, SVP at IRG. “The project’s potential for rail and barge access is unique in the market, and we anticipate seeing various sized tenants taking substantial portions of the main building.”
IRG will begin renovations and marketing immediately and is already in discussions with a number of potential tenants.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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