Thackeray Partners, Missner Group Complete 180,000+ SF Speculative Industrial Development in Chicago's Fuller Park
Thackeray Partners and The Missner Group have completed a speculative industrial development totaling more than 180,000 square feet at 4002 S. Princeton Avenue in Chicago's Fuller Park neighborhood, the firms announced June 26.
The building, located near W. Root St. and S. Princeton Ave. in the city's historic Stockyards area, is designed to accommodate up to four tenants and targets industrial, logistics and manufacturing users. Space is currently available for lease, with CBRE's Larry Goldwasser serving as the leasing contact.
Project Details and Design
The facility was developed on a speculative basis, with no anchor tenant in place at completion. The building is pursuing LEED Silver certification, which The Missner Group cited as part of its commitment to delivering efficient industrial space in infill locations.
"4002 S. Princeton represents the type of project we believe continues to make sense in today's industrial market: well-located, flexible and tenant ready," said Barry Missner, CEO of The Missner Group. "The Stockyards have long played an important role in the city's industrial economy, and we look forward to continuing to invest in the area."
Thackeray Partners' Investment Rationale
Jackson Williams, Director at Thackeray Partners, said the partnership reflects a shared view on Chicago's industrial market fundamentals and the value of delivering space in locations where tenants want to be.
"Our partnership with The Missner Group reflects a shared conviction in the strength of Chicago's industrial market and the long-term value of delivering space in locations where tenants want to be," Williams said. "With the building now complete, our focus is on attracting users that can take advantage of the site's connectivity, functionality and access to Chicago's established industrial base."
Location and Infrastructure Advantages
The Fuller Park site benefits from proximity to established industrial infrastructure, Chicago's broader transportation network and a dense regional labor pool, according to the firms. The Stockyards area has historically served as a core node of Chicago's industrial economy, and the new facility adds flexible capacity to what the developers described as a supply-constrained submarket.
The multi-tenant configuration — designed to serve up to four users — positions the building for industrial, logistics and manufacturing tenants seeking divisible space within Chicago's city limits.
About The Missner Group
Established in 1945, The Missner Group provides real estate investment, development, acquisition and construction services throughout the Midwest. The firm has completed more than $3 billion of construction and more than 25 million square feet of development.
Leasing and Next Steps
With the building now complete and fully available, leasing activity will be the key near-term milestone for the joint venture. Interested parties can contact Larry Goldwasser of CBRE for leasing inquiries. Additional property information is available through CBRE's property listings.
No financial terms, including development cost or capitalization details, were disclosed in connection with the completion announcement.
Sources
The Missner Group — 4002 S. Princeton Ribbon Cutting Announcement