WILMINGTON, Ill. (May 24, 2014) — Michelin North America Inc. has agreed to lease a 1.7 million-sq.-ft. warehouse southwest of Chicago to service dealers throughout the Midwest.
The development, at the RidgePort Logistics Center in Wilmington, will be the largest build-to-suit industrial warehouse in the Chicago area since 2006, according to local real estate records. RidgePort is a 2,500-acre industrial park under development near Interstate 55 in Wilmington, a town of about 5,000 inhabitants about 40 miles southwest of Chicago.
Michelin expects to put the distribution center into operation in 2015. A company spokesman declined to discuss terms of the lease.
The deal is the first major tenant at RidgePort, according to James Martell, president of Chicago-based Ridge Development Co. L.L.C.
“Having an anchor tenant like Michelin — their name and the size of the project and so forth — certainly bodes well” for further leasing, he said.
This story appeared on crainschicago.com, the website of Crain's Chicago Business, a sister publication of Tire Business.
When is the last time you attended one of the national tire industry trade shows, such as SEMA, ITEC or the North American Tire & Retread Expo?
|I try and take in at least one show a year.||
|I usually attend one every few years.||
|There are so many tire maker and distributor meetings each year, I don’t see a need to attend one of the national shows.||
|I don’t find value in these shows and haven’t been to one in years.||
|I’d like to but I am too busy||