Build-to-Suit is Back; The Deal Sheet
An upswing in build-to-suit and spec development means one thing--the industrial market is on the rebound (but hopefully avoiding those awkward "did we, didn't we?" one-night stands).
Principle Construction just completed a new 267k SF build-to-suit manufacturing building for tenant Winpak Portion Packaging in Sauk Village. Owned by Dermody Properties (DP Partners), the plastics manufacturing facility sits on a 29-acre site near the corner of Mark Collins and LogistiCenter drives. With Q4 local vacancy at its lowest level since 2008 (according to Colliers), we think this might just turn into a stable, long-term relationship.