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BOSTON, Jan. 25, 2021 /PRNewswire/ - Manulife Investment
Management today announced the development of 955 Weigel, a new
high image warehouse facility in the heart of the Elmhurst, Illinois industrial corridor. The
175,414 square foot building was designed and developed in a
partnership between Manulife Investment Management and Crow
Holdings Industrial and will be delivered in early 2021.
"We are proud to be partnering with Crow Holdings Industrial to
develop a new Class A facility in a prominent industrial location,"
said Rob Maulden, Global Head of
Real Estate Development, Manulife Investment Management. "Our
vision for this project is to create a first-class facility with
long term durable returns for our partners."
The new facility is a full redevelopment of an outdated office
and industrial site. Minutes from O'Hare International airport, 955
Weigel offers a one-of-a-kind location in DuPage County with quick access to I-290,
I-355, and I-294. Just 20 minutes to downtown Chicago, the property is well located for
companies seeking a superior O'Hare location with excellent access
to labor and transportation.
"The Elmhurst industrial pocket
offers uniquely low and projectable DuPage County property taxes while still
providing all the convenient access to the airport," explained
Matt Kurucz, Managing Director and
Midwest market leader for Crow Holdings Industrial. "The O'Hare
submarket is the heartbeat of Chicago industrial and 955 Weigel couldn't be
any better located to capitalize on historically low vacancy
rates."
The property is well positioned as the demand for industrial
space remains strong among tenants in e-commerce, food and
beverage, packaging and healthcare-related industries. The
development of 955 Weigel will provide customers with a strong
long-term solution to thrive in an ever-changing landscape.
Colliers International is the listing team on record for 955
Weigel. For more information about the property, please visit
www.955weigel.com.
About Manulife Investment
Management, Private Markets
Manulife Investment Management's comprehensive private markets
capabilities include real estate, private equity and credit,
infrastructure, timber and agriculture. Through
its real estate group, Manulife Investment
Management develops and manages commercial real estate for
thousands of customers around the globe.
As of September 30, 2020, the real estate portfolio
totals over 63 million square feet of office,
industrial, and retail space and over 6,000 multifamily units
strategically located in markets across Canada, the U.S., and Asia. The group leverages its global platform
and local expertise to provide market-leading solutions for its
tenants and deliver results for its partners.
Additional information about our Real Estate group can be found
at www.manulifeim.com/realestate.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw
on more than a century of financial stewardship and the full
resources of our parent company to serve individuals, institutions,
and retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 17 countries and territories. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to
investing responsibly across our businesses. We develop innovative
global frameworks for sustainable investing, collaboratively engage
with companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better
retirement.
As of September 30, 2020, Manulife
Investment Management had CAD$923
billion (US$692 billion) in
assets under management and administration. Not all
offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
About Crow Holdings
Crow Holdings is a privately owned
real estate investment and development firm headquartered in
Dallas, Texas. With a 70-year
operating history and a strong track record of performance and
innovation, the Company has extensive industry reach and access
through its businesses' 15 U.S. offices. The investment management
platform consists of Crow Holdings Capital and Crow Holdings
Partners. The development platform consists of Trammell Crow
Residential, Crow Holdings Industrial and Crow Holdings Office, and
develops multifamily, industrial and office properties. CHI
specializes in distribution, fulfillment and last mile properties
in key logistics markets throughout the
United States. For more information, please visit
www.crowholdings.com/chi.
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SOURCE Manulife Investment Management