Development

Case Study

Georgia-Pacific

23534 S. Central Avenue, University Park, IL

Property Details

TRANSACTION TYPE

Build-to-Suit

TRANSACTION DATE

2016

PROPERTY SIZE

1,000,740 SF

Venture One Real Estate and Clayco were co-developers of a state-of-the-art distribution facility for Georgia-Pacific constructed of architectural precast with complimentary glass office features. To meet the Tenant’s quick occupancy timeframe permits were phased and the developer was able to secure precast to meet the schedule even though there was not bed space available on the open market that coincided with when the precast is required.

Gateway 57 Corporate Park is located in a TIF district and enterprise zone. The developer worked with the Village to secure real estate tax savings for the tenant estimated at more than $9.5 million over the term of their lease and the enterprise zone to provide all of the benefits to the user including over $1 million in savings on the building materials sales tax alone that is passed on to the user.

The project was financed by Well Fargo and Clayco was the design build firm.