Dermody Properties acquired a 40-acre site at 251 S. Pinnacle Drive in Romeoville and plans to build a 460K SF Class-A logistics facility.
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The new project, named LogistiCenter at Romeoville, will break ground this spring, with completion anticipated in the first quarter of 2026. The sale price for the deal wasn't disclosed and couldn't immediately be obtained from county property records.
The suburb's transportation infrastructure and access to a skilled workforce creates a good strategic environment for a logistics hub, Neal Driscoll, midwest region partner at Dermody, said in a press release. The site is near major interstates and highways and close to a pair of other logistics parks.
The new facility will be divisible and able to accommodate a variety of uses, including advanced manufacturing, e-commerce fulfillment, distribution and warehousing. NAI Hiffman's John Whitehead and Adam Roth represented Dermody.
Dermody netted a major lease in February at its redevelopment of the former Allstate corporate campus in Glenview. Dental equipment manufacturer HuFriedyGroup signed a 326K SF lease for its new corporate headquarters at Building 3 of the Logistics Campus. Dermody recently completed the 1.2M SF first phase of the redevelopment, which will total 3.2M SF.
Industrial development in the Chicago area has slowed significantly after a surge in 2022 and 2023. In 2024, developers started on 9.5M SF of new product, according to CBRE, down 52% from the prior year. Forty-one projects totaling 12.7M SF were under construction in Q4, two-thirds of which are build-to-suit, an increasingly common option in the market.
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