Global real estate developer Hillwood has broken ground on the Fox Valley Commerce Center in Geneva, Illinois, US.
Fox Valley is a Class A industrial development and comprises four buildings, which will be built in two stages, totalling 1,063,800ft².
The first phase consists of two buildings with 266,760f² and 272,160ft², respectively. The second phase comprises a build-to-suit of up to 500,000ft².
Harris Architects is serving as the designer of the Fox Valley Commerce Center.
FCL Builders is the general contractor, with the Lee & Associates team of Nick Eboli, Jeff Janda, and Andrew Block marketing and renting the property.
Phase one construction is scheduled for completion late next year.
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Hillwood executive vice-president and Midwest market leader Don Schoenheider said: “Our team [at Hillwood] is grateful for the partnership with the Weber Family and the privilege to transform this parcel of farmland into something that will benefit the community of Geneva.
“They saw the vision and fortitude this land could bring to the community and trusted us with making that vision come to life. Fox Valley Commerce Center will meet a rapidly accelerating demand for modern logistics facilities in the Midwest.”
Hillwood acquired the 75-acre site situated at 2088 Geneva Drive in July this year.
Located between IL-38 and IL-64, Fox Valley Commerce Center is nine miles from I-88 in the Central Kane and DuPage submarket.
Only 40 miles away from Chicago, the project is near DuPage County Airport. Fox Valley is within an hour’s drive of Chicago.
The pro-business environment is expected to be beneficial for tenants.