Franklin Park has been a leader in development of new industrial buildings, attracting industry, taking advantage of its infill location and proximity to O’Hare Airport. The village is located in the West Cook submarket, which has a low 4.5 percent vacancy rate and just 611,135 square feet under construction during Q4 2019. The submarket also boasts one of the highest average asking rents in Chicago at $7.50 per square foot. The submarket is consistently in high demand because of its low availability of new buildings and its proximity to highways leading into Chicago and out toward other major cities across the United States. Darwin and Franklin Park have worked together completing transactions with developers and occupants including Bridge Development Partners’ acquisition of a 48-acre land site to build its 740,000 square foot, three-building industrial park. The park was recently sold to Morgan Stanley. Dace has also worked in Franklin Park on 9129 & 9125 Beldon, 2330 N. 17th avenue and 3901 Carnation.
//rejournals.com
