LOCKPORT, ILL. — PCCP LLC has partnered with Panattoni Development Co. to acquire a fully entitled 51-acre land parcel in Lockport, a southwest suburb of Chicago, for an undisclosed sum. The joint venture plans to develop Lockport 355, a four-building industrial park totaling 846,510 square feet, on the site. Construction of the first phase of the park is slated to begin in June, with completion scheduled for the first quarter of 2016.
The first phase will include the two largest buildings at 274,040 square feet and 228,690 square feet. Upon completion, the park will offer four Class-A warehouse and distribution buildings that can accommodate single-user or multi-tenant occupancy.