We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Dermody Properties Announces the Acquisition of 2800 Forbs Avenue in Hoffman Estates, Illinois
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Dermody Properties Announces the Acquisition of 2800 Forbs Avenue in Hoffman Estates, Illinois

Dermody Properties Announces the Acquisition of 2800 Forbs Avenue in Hoffman Estates, Illinois
March 9, 2022
No Comments

HOFFMAN ESTATES, Ill. – Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the acquisition of 2800 Forbs Avenue in the Northwest Cook County submarket of Chicago. The 135,940-square-foot, Class A warehouse and distribution center is available for lease and located within Prairie Stone Business Park at Interstate-90 and Route 59, just twenty minutes from O'Hare International Airport.

Surrounded by forest preserve, Prairie Stone business park provides a unique blend of technology and tranquility. The building sits adjacent to a significant number of retail, restaurant and hotel amenities which have become critical assets for attracting and retaining employees.

The property was acquired in February 2022 from Mary Kay Inc. and is being marketed for lease with the help of Cushman & Wakefield. A new Class 6B real estate tax incentive is in place to ensure the building’s real estate taxes remain competitive with adjacent Kane County.

“This is a rare, value-add opportunity in the Interstate-90 corridor where supply of modern industrial space continues to be extremely limited. Combining the supply and demand imbalance with a very pro-business community like the Village of Hoffman Estates makes this an exciting acquisition,” said Neal Driscoll, Midwest Region Partner at Dermody Properties. “The Interstate-90 corridor continues to attract technology-driven, value-add companies needing convenient access to O’Hare International Airport and the greater Chicago metropolitan area.”

The property features a 15,150-square-foot office area, a fully air-conditioned warehouse, 3,000 amps of power, a 30’ clear height, 216 car parking stalls and a unique drive-through perfectly suited for today’s evolving business-to-business and direct-to-consumer logistics models.

“In a lot of ways, Mary Kay was ahead of their time with the building design. Previously, the drive-through was used for Mary Kay’s Independent Beauty Consultants to pick up products at the facility. There are hundreds of companies looking to deliver directly to consumers. This building is the perfect solution to address that need in the northwest suburbs,” said Driscoll.

Hoffman Estates is bisected by Interstate-90 as it connects Rockford, Ill. and other western destinations to O’Hare International Airport, and, by extension, the City of Chicago. The more recent growth of industrial real estate along the corridor is due in large part to the widening of Interstate-90 to five lanes which was finished in 2019, allowing for improved drive times and accelerated demand outside O’Hare.

“It is extremely challenging to find quality acquisition opportunities in the current, highly competitive industrial market, making this a valuable acquisition for its central location,” said Tim Walsh, Partner and Chief Investment Officer at Dermody Properties. “Many companies are also looking for an extensive and diverse labor pool, which this area offers.”

Britt Casey and Al Caruana of Cushman & Wakefield are the leasing brokers for the property.

###

About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $6.2 billion of total capital across all platforms nationwide, having acquired and developed approximately 100 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. For more information, visit www.Dermody.com.

https://dermody.com/news/dermody-properties-announces-the-acquisition-of-2800-forbs-avenue-in-hoffman-estates-illinois/
Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
Special Coverage
KEYWORDS Dermody Properties
  • Related Articles

    Dermody Properties Announces the Acquisition of 54.40 Acres in Southern California to Develop a One

    Dermody Properties Announces the Acquisition of 961 Acres of Land in West Phoenix Suburb to be Devel

    Dermody Properties Announces Lease of 2589 Goodrick Avenue to Two New Customers

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Survey: top supply chain risk of 2023 is semiconductor shortage

  • Big and bulky last-mile delivery segment set for hot growth

  • Outlook 2023: What’s in store for logistics/supply chain?

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

  • In Person: Steve Beverly of Penske

Now Playing on DCV-TV

89cfed30 8aac 4284 960d c8c8c1886e16

Have you checked your read rate lately?

DCV-TV 4: Viewer Contributed
No reads. Unaccounted for boxes. Boxes sent to the wrong place. A logistics nightmare! But this nightmare doesn’t have to come true. SICK’s linear line scan camera is what dreams are made of for your logistics operations. And if you’re worried about motion and vibration from conveyor belts...well, there’s no reason...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing