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JV Will Develop Industrial at Former Outlet Mall Site in Huntley
Huntley Investment Partners, LLC (HIP) will develop approximately 717,400 square feet of industrial buildings on a 60.8-acre site along I-90 located one mile east of the four-way interchange at I-90 and Route 47 in Huntley, IL. HIP is a joint venture among affiliates of Craig Realty Group, Inc., The Prime Group, Inc., and The Capital Companies.
HIP acquired the site from the Simon Property Group in April 2016. The JV determined that the highest best and best use of the property, originally improved with an outlet mall, was industrial/distribution.
Newmark senior managing directors Adam Marshall and James Schutter and director Mark Deady are representing HIP in development leasing. “This will be the first business park in the Route 47 Corridor that can accommodate an industrial/distribution tenant over 500,000 square feet that is zoned, improved and ready for immediate development,” said Marshall.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Lease
