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Russell Breaks Ground on Build-to-Suit in Quad Cities
JLL and Russell have broken ground on a new 251,100-square-foot, build-to-suit leaseback in Davenport, IA. This project is the beginning phase of the new 95-acre Russell Industrial Park at 8730 Northwest Blvd. JLL managing director Marcus Pitts and VPs Michael Minard and Austin Hedstrom represented the Russell team in the deal.
Minard said, “Inside the city limits of Des Moines, we’re accustomed to large, industrial developers entering the market and fueling the local economies. Now, the Quad Cities, which boasts less than a 2% vacancy rate, is experiencing a similar industrial demand—and reputable development groups like Russell are stepping in to answer that need for major industrial users.”
Russell plans to break ground soon on the industrial park’s second building and phase, a 300,000-square-foot spec building, expected to be available for tenancy in the fourth quarter of 2022.
- ◦Development
