The Missner Group Announces Completion of Addison Industrial Project With Partner Realterm
CHICAGO, July 26, 2023 /PRNewswire/ -- The Missner Group, (TMG) a Chicago-based fully integrated general contractor and real estate developer, is pleased to announce the completion of its second of three buildings in their joint venture with Real Term, at 50 S Fairbanks, a speculative industrial project, located in Addison, Illinois.
The Missner Group served as the Developer and General Contractor on the project in Addison, Illinois. Construction of the class A, 80,464 square-foot industrial building, included 13 exterior docks, 2 drive-in doors, 32' clear height ceilings, and 108 additional parking spaces.
"50 S Fairbanks is a terrific addition to our portfolio. It has been a pleasure partnering on this and other projects with our friends at Realterm" conveys Barry Missner, CEO of The Missner Group, "Addison is a prime central location with tax incentives, close proximity to the interstate system, and easy access to O'Hare and Midway airport."
30,387 square feet were pre-leased by PGW Auto Glass. The Missner Group will serve as the general contractor for the build-out of this space, intended for the distribution and warehousing of vehicle glass and related parts and materials. PGW is expected to move in by the end of quarter 3 2023.
50,077 square feet remains available. The remaining space can be leased as a single unit or subdivided into two smaller spaces to suit potential leaseholders.
The joint venture between Realterm and The Missner Group includes additional projects located in East Chicago, Indiana, and Chicago, Illinois.
The Missner Groups' Vice President of Construction, Angelo Christopher, was the Project Executive, with Alex Cox and Don Hay as Project Managers working alongside Superintendents, Dan Zboncak and Garrett Giles, who managed field operations.
Cal Payne and Genna Nicketta of CBRE are leasing agents for the property. Architectural design was provided by Cornerstone Architects, while Spaceco, INC executed civil engineering. Construction financing for the project was provided by Associated Bank.
ABOUT THE MISSNER GROUP:
Established in 1945, The Missner Group provides comprehensive and integrated real estate investment, development, acquisition, and construction services throughout the Midwest. TMG has completed over 2 billion dollars of construction and over 25 million square feet of development. For almost 80 years they have committed to the same mission and vision establishing themselves as a premier and preferred general contractor and developer throughout the Midwest.
ABOUT REALTERM:
Realterm is a leading investment manager of transport logistics real estate and infrastructure. Realterm seeks to invest in transportation-advantaged assets located within the top global distribution and logistics markets. Our investments are critical to national, regional, and local trucking and logistics users alike, including retailers and wholesalers, bulk and regional warehouse operators, manufacturers, and e-commerce fulfillment providers.
SOURCE The Missner Group
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