JV of Realterm and Missner Launches Addison Industrial Build
A joint venture between Realterm and The Missner Group has launched construction on its second project at 50 S. Fairbank St. in Addison, IL. Delivery is expected for the first quarter of 2023.
Upon completion, the 80,464-square-foot industrial distribution center in Chicago’s West Suburbs submarket, will feature divisibility to 25,000 square feet, office built to suit, two drive-in doors, 13 exterior docks, a 32-foot clear ceiling height and 108 parking spaces.
“When complete, this final mile facility will fill a void on a site that has not been available to the market in nearly 50 years, satisfying the strong appetite for new, high-image space in the Addison area,” said Ed Brickley, managing director, Realterm.
The JV expects to deliver a project in East Chicago, IN during Q3 of this year. It plans to launch construction of two warehouse projects in Chicago later in 2022.
- ◦Development
