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May 24, 2014 02:00 AM

Michelin to add D/C in Chicago area

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    By Micah Maidenberg, Crain News Service 

    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.

     

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