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Chicago & Midwest  + Greater Chicagoland  + Industrial  | 

Scannell Snags 176 Acres for Industrial/Retail Development in Belvidere

Newmark represented Scannell Properties in its acquisition of 176 acres for a new industrial and retail development at Irene Road and U.S. Route 20 in Belvidere, IL. Deal terms weren’t disclosed. 

The first project in this new development is a recently announced 1.3-million-square-foot build-to-suit warehouse and distribution center for an undisclosed Fortune 500 client on approximately 116 acres. A remaining 46-acre site will accommodate a manufacturing or distribution build-to-suit up to 585,000 square feet.  

As part of the new development, Scannell will reconfigure the existing Irene Road to provide two additional commercial out lots, totaling approximately 14 acres, with good visibility on the northeast and northwest corners of the new Irene Road intersection at US Route 20. 

Newmark senior managing director Adam Marshall represented Scannell Properties in the land acquisition. Marshall and senior managing director James Schutter represent Scannell Properties on the remaining sites. 

Rendering courtesy of Partners in Design Architecture.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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  • ◦Development