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Opus Group, USAA ink big warehouse lease with logistics firm in Streamwood
Expeditors International will add the 424K sf facility to its hundreds of worldwide locations
The Opus Group and USAA Real Estate have inked a lease with logistics company Expeditors International for their northwest suburban warehouse that had been built on spec in 2015.
Seattle-based Expeditors will add the 424,000 square-foot Streamwood facility to its 250 worldwide locations, Opus said Tuesday. The building, which sits on 35 acres of land about 20 miles west of O’Hare International Airport, includes 48 truck docks and 55 trailer parking stalls.
Trucks will have quick access to the O’Hare-Elgin Expressway, which officials are aiming to extend into a new west entry point at the airport by 2022.
Industrial development has been especially active in the O’Hare submarket, where the vacancy rate has dipped below 5 percent this year.
The industrial market in the region has also remained strong, with millions of square feet coming online every quarter, as e-commerce companies feed their demand for new shipping and logistics spaces.
Minnesota-based Opus has built nearly 7 million square feet of industrial space around the country since 2016, part of a far-reaching portfolio that also spans office and residential properties. It counts 14 industrial warehouses in Illinois, all of them built within the past decade.
Also this summer, a joint venture of DeBartolo Development and Location Finders International Real Estate broke ground on an 879,000-square-foot spec logistics warehouse in south suburban Monee.