JOLIET – Ryan Companies US has announced that construction has started on a 746,772-square-foot speculative warehouse at its Laraway Crossings Business Park in Joliet.
The project is being developed by Hillwood Investment Properties, a Texas-based developer of warehouse and distribution sites.
The project was made public in July, when Hillwood sought tax incentives from the City of Joliet. That request was put on hold until a user for the property is found.
The warehouse is going on a 49-acre site at 201 Emerald Drive.
Laraway Crossings is home to the Amazon.com fulfillment center that opened this month. Ikea plans to build two 1.4-million-square-foot buildings for a distribution center in the business park.
Laraway Crossing, which totals 362 acres, is located at Route 53 and Laraway Road.
Hillwood earlier this year proposed a 200-acre warehouse project at Interstates 55 and 80. But the company turned its attention elsewhere when city officials said they were looking for retail and office development at that site.
According to a news release from Ryan Companies, the Hillwood building at Laraway Crossings can be expanded to nearly 1.1 million square feet. The news release described Hillwood as having “an aggressive plan to build its Chicago-area presence.”
:quality(70)/s3.amazonaws.com/arc-authors/shawmedia/c957a8ff-14a0-492e-82d7-3c005b3cd732.png)