Industrial Outdoor Ventures (IOV), a leading investor in industrial outdoor storage (IOS) and industrial service facilities (ISF), has completed the construction of its Trumpet Park spec ISF development. IOV’s first Illinois ground-up development, at 700 Trumpet Drive in Zion, IL, is ready for immediate occupancy.
This phase of IOV’s Trumpet Park development includes a maintenance and service facility that totals 11,440-square-foot and has a maximum 26’6” clear ceiling height. Equipped with a state-of-the-art fire suppression system, the facility is equipped with three 14’ by 16” drive-thru bays for convenient servicing. The building also features a 2,008-square-foot office space with LED lighting. The secure, well-lit fenced yard area, with heavy duty asphalt surface, has 180 trailer parking spaces.
Trumpet Park’s first phase, part of a larger $35 million project, is situated on a 9-acre parcel located adjacent to the FedEx Freight Terminal west of Green Bay Road and 9th St.
“The completion of our project at Trumpet Park is a great milestone for IOV and provides a great, location-driven opportunity for companies located in Lake County, Illinois or Southeast, Wisconsin,” said Eric Johnson, Sr. Vice President of Development and Acquisitions for Industrial Outdoor Ventures. “The supply of modern, well-located facilities is extremely limited given the difficulty in securing municipal approvals.”
ISFs, commonly referred to as low coverage industrial properties, provide supply chain infrastructure solutions to essential industries such as transportation, bulk material distribution, last-mile logistics, heavy equipment, and the utility industry, among others. The new development, approximately two miles east of I-94, can be used for truck parking, maintenance/service facilities and/or material storage as well as trucking terminals.
The new facility is being marketed for lease by Chris Volkert, Ned Frank and Pat Hake, all members of Colliers International in Chicago.
According to Colliers, there has been an increasing level of activity related to manufacturing and related facilities. In general, rental rates are at the highest they have ever been and the vacancy in Lake County is near its historic low. With relatively few new projects coming online, they expect the year-over-year vacancy rate to continue to drop year assuming there is solid absorption this year.
“The Village of Zion embraced our vision for the development and construction of this modern facility and have been great to work with,” said Rob Chase, Director of Construction and Properties, Industrial Outdoor Ventures. “Upon their approval, the construction phase of the project moved along smoothly allowing us to deliver this opportunity to the market.”
The second phase of Trumpet Park, on a larger, 47-acre parcel located at the southwest corner of Green Bay Road and Russell Road, is in the pre-development phase. It has tremendous flexibility to meet the demands of the market.
Both phases of Trumpet Park are located immediately south of historically popular and in demand business and industrial parks and within close proximity to four active submarkets—Southeast Wisconsin, Kenosha County, Northern Lake County and Lake County. Notable users, with significant warehouse, distribution and logistics operations, in the area include Uline, Ta Chen, Geodis, APL, and Honeywell, among many others. While the availability of new space, based on new construction activity varies over time and depending on economic conditions, the historically steady levels of tenant demand continue to fuel these submarkets.
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https://www.industrialoutdoor.com/
