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Will County Becoming a Key Aspect for Industrial Businesses
On Tuesday, January 16 th, Adam Roth, Senior Associate with NAI Global Logistics, presented the 2007 Real Estate Forecast for the Will County Center for Economic Development, at the Empress Casino in Joliet.
In his presentation, Roth commented Will County will continue to be a national attraction for companies looking for key distribution point in the U.S. One of the key points was 2,600 acres of industrial development in Wilmington, Elwood and Shorewood. Roth said, “You have land. This is what separates you from other parts of the country.”
One of the most significant real estate projects going on in the county is 1,400 acres acquired by Ridge Property Trust, outside of Wilmington.
Some other major projects include:
- 776 acres being developed by Wilmington for Wilmington’s Island City Industrial Park.
- 300 additional acres being acquired by CenterPoint Properties Trust for the CenterPoint Intermodal Center.
- 157 acres being developed by First Industrial Realty Trust at the Heartland Corporate Center in Shorewood.
Roth also mentioned Will County is in high demand for industrial developers. “This isn’t the norm. This isn’t what usually happens.” Will County has been booming in the past couple of years, and now ranks third for total industrial space in the Chicago metro area. The county is expected to surpass DuPage County if the current development trends continue.
Industrial space grew by 14 percent in 2006 for Will County, Roth commented. Some of the added brand names included Sears Holding Corp. and Kimberly-Clark.
The event attracted real estate brokers and developers from across the county, and about 350 people attended.
116 N. Chicago St., Ste. 101, Joliet, IL 60432, 815.723.1800,
info@willcountyced.org
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