At the new LogistiCenter 395 in Reno, Dermody Properties has broken ground in its 91-acre industrial park, the first phase being a 624,000 square-foot warehouse/distribution facility. The Results: 400% AUM Growth Over Three Years. Subscribe to our email updates for the latest information on all of our projects. By clicking Subscribe you agree to our Privacy Policy. During the ceremony, the Dermody Properties Foundation presented a $10,000 donation to Northfield Township Food Pantry, in the name of the Village of Glenview, which was accepted by Northfield Township Supervisor Shiva Mohsenzadeh. Dermody Properties Lands Tenant at Inland Empire Warehouse Were pleased to announce that we have hired David Jennings as Senior Vice President, Development in our East Region office. Dermody is building the first pieces of the project on spec, similar to around 80 percent of similar projects currently under construction in the Chicago area, per Colliers. Through business grants, transportation investments, tax incentives, workforce development, and apprenticeship programs, Cook County is supporting businesses and families to get back to work throughout the northern suburbs.. The project will be marketed as LogistiCenter at Woolwich. Jennings will be responsible for providing due diligence, design, entitlement, budget and construction oversight for new developments, acquisitions and build-to-suit projects in the region. Dermody Properties buys Rancho Cordova land for industrial project The industrial developer can begin construction on its first phase, which will include five warehouses totaling more than 1.2 million square feet that will open within a year. The legal advisor for Dermody Properties was Kirkland & Ellis LLP. David brings extensive development experience to this role. Dermody Properties is an e-commerce, logistics & industrial real estate investment, development, acquisition and management company. Allstate agrees to sell part of campus to developer for $232 million Statham Investment LLC to Jatco Properties LLC, 1144 state Route 305, $140,000. Dermody Properties to Pay $232M for Allstate Campus Dermody Properties, acting through its affiliate, paid $48.2 million in cash for the site, the Alameda County . For full functionality of this site it is necessary to enable JavaScript. Once complete, The Logistics Campus will serve the needs of our customers, the community, and many stakeholders by creating a significant number of competitive, high-paying construction and long-term jobs in the logistics industry. GLENVIEW, ILL. Dermody Properties has completed its acquisition of the 232-acre former corporate office campus of Allstate Corp. located on Sanders Road in Glenview, roughly 22 miles northwest . Connect to CRM . Buildings 2, 3 and 4 are still available for lease. Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently announced the lease of a . He will be responsible for the sourcing and management, We recently announced that we have hired Benjamin Seeger as Northwest Region Partner. Dermody Properties Hires Pearce Dermody as Vice President and About Dermody Properties. This website uses cookies to improve your experience while you navigate through the website. Jennings holds a Bachelor of Science degree in construction engineering and management from Purdue University. These cookies do not store any personal information. . The Logistics Campus is located at the site of the 232-acre former Allstate Corporation (NYSE: ALL), Today, we announced the acquisition of the Allstate Corporation (NYSE: ALL) corporate campus in Glenview, Ill. The Class A, state-of-the-art facilities will utilize the most up-to-date, energy efficient designs. Dermody Petroleum Pty Ltd | semantictrade August 6, 2020 FREMONT, Calif. Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has leased 44370 Christy Street, an 89,336-square-foot logistics building in Fremont, Calif., to a San Jose-based company. Dermody Properties Leases More Than 26,000 SF at LogistiCenter at Edit Recent News & Activity Section. Village of Glenview President Michael Jenny, 14th District Cook County Commissioner Scott Britton, State Senator Julie Morrison and Dermody Properties leadership were in attendance for the event. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Save . Dermody Properties grants $25,000 to Food Bank of Northern Nevada Reno company also doles out $25,000 to six other nonprofits "The Thanksgiving Capstone Award allows our company to help organizations who are truly making a difference in the lives of people in need," says company chairman and CEO Michael Dermody. It is mandatory to procure user consent prior to running these cookies on your website. The Logistics Campus is located at the site of the 232-acre former Allstate Corporation (NYSE: ALL) headquarters in Glenview, Illinois. Rosemary Dermody (trustee) and Rosemary Dermody (trust), 2083 Greenfield Drive, El Cajon, CA 92019 Find homes for sale, market statistics, foreclosures, property taxes, real estate news, agent reviews, condos, neighborhoods on Blockshopper.com . After The Glen, this logistics campus will be the most significant development ever to come to Glenview, generating millions in new taxes for our schools, parks and vital Village services. . We pride ourselves on being one of the most knowledgeable, agile and responsive teams in the country. Dermody Properties has closed a new lease at its LogistiCenterSM at Eastvale Building 6 in Eastvale, Calif., with a Fortune 500 company. Try again later. Round-up top news and topics for each of the following cities, Select the newsletter you'd like to receive below. Dermody Properties Closes Industrial Fund at $1.1 Billion Dermody Properties buys former Berkeley Farms milk processing facility Dermody Properties isn't ready just yet to break ground on a sizable spec industrial project in Rancho.. Business One News Page: Monday, 7 November 2022 Dermody Properties Breaks Ground on The Logistics Campus, Dermody Properties Acquires Allstate Campus, Plans to Break Ground on The Logistics Campus, Dermody Properties Hires David Jennings as Senior Vice President, Development, Dermody Properties Hires Pearce Dermody as Vice President and Investment Manager, Dermody Properties Hires Benjamin Seeger as Northwest Region Partner, Dermody Properties Welcomes Industry Veteran Amy Curry as Partner, Chief Strategy Officer. Claim this Business Categories Real Estate Brokers near Reno, NV Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. All rights reserved 2022 The Real Deal is a registered Trademark of Korangy Publishing Inc. I look forward to working with the exceptional team at Dermody Properties, said Curry. Converting Office Space into 3.2 Million Square Feet of Industrial Space, the Project Marks a Major Milestone in the Era of e-Commerce and Work From Home Webroke ground Thursday, Oct. 27 on The Logistics Campus, a planned, 10-building development. The Logistics Campus prime location will help draw world-class companies to the region, bringing jobs and economic opportunity along with them, said Neal Driscoll, Midwest Region Partner at Dermody Properties. 'Next gen' 5-story distribution center planned for Boxwood This project joins a record number of Chicago-area industrial developments currently underway. We are thrilled to welcome Amy to Dermody Properties, said Douglas A. Kiersey, Jr., President of Dermody Properties. Dermody Properties Announces the Acquisition of 961 Acres of Land in The projects final form will see a 10-building, 3.2 million-square-foot logistics park. AUSTIN, Texas, Nov. 7, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced the publication of its annual . Logistics & Industrial Real Estate Developers | Dermody Properties The Logistics Campus is, Were pleased to announce that we have hired David Jennings as Senior Vice President, Development in our East Region office. In the three-year period after implementing Dealpath, Dermody Properties grew its portfolio of assets under management by 400%. For Sale: 215 Dermody Rd, Bennington, VT 05201 $95,000 MLS# 4929831 Majestic 2.09 Level building lot with current site plan, wastewater permitting, septic design and proposed well location al. Full Name* This suggests developers in the area are forecasting ample demand for industrial space, which is counter to other U.S. markets. But opting out of some of these cookies may have an effect on your browsing experience. - Senior Reporter, Sacramento Business Journal Apr 19, 2022 As industrial developers scramble to take advantage of a hot market, Dermody Properties has zeroed in on two projects along what the. Dermody Properties buys Rancho Cordova land for future industrial projects for $14.2 million Enlarge Dermody Properties is developing LogistiCenter at Rancho Cordova, an industrial building. News August 16, 2022 Dermody Properties Welcomes Industry Veteran Amy Curry as Partner, Chief Strategy Officer We recently announced that Amy Curry has joined Dermody Properties as Partner and Chief Strategy Officer. Dermody Properties breaks ground on The Logistics Campus Beginning this summer, the customer will lease the entire building totaling. Dermody Properties Announces Lease of LogistiCenter at Lehigh Valley East to Iron Mountain and CONRI Services, Inc. Dermody Properties Announces New Lease in the Inland Empire, Dermody Properties Announces the Acquisition of 2800 Forbs Avenue in Hoffman Estates, Illinois, Dermody Properties Announces Lease of 208,320 Square Feet in Louisville to Fisher & Paykel Healthcare. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Dermody Properties Acquires 90,725-Square-Foot Industrial Building in There are many opportunities for strategic growth across the U.S., and I am pleased to help further develop the companys vision for continued success.. Insurance giant Allstate has reached an agreement to sell its longtime Northbrook headquarters for $232 million to an industrial developer that plans to turn the corporate . Glenview public hearing set for Dermody redevelopment of Allstate campus Living Legacies: Dermody Properties - Nevada Business Magazine Dermody Properties has closed its third commingled fund, Dermody Properties Industrial Fund III L.P. Victoria Pruitt WOOLWICH - Construction is to begin this spring on a logistics park at a 154-acre site here, a developer has announced. Curry will advise and support Dermody Properties strategic direction, We arepleased to announce the lease of LogistiCenter at Lehigh Valley East Building 1, located at 450 E. Moorestown Rd., to Iron Mountain and CONRI Services, Inc. Iron Mountain is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. It will be the first major development of its scale in Nevada since 2008. Nov 5, 2022. I look forward to continuing to grow our investment in the region.. NEWS Dermody Properties Breaks Ground on The Logistics Campus October 27, 2022 | Converting Office Space into 3.2 Million Square Feet of Industrial Space, the Project Marks a Major Milestone in the Era of e-Commerce and Work From Home We broke ground Thursday, Oct. 27 on The Logistics Campus, a planned, 10-building development. ROHNERT PARK, Calif. Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has leased part of LogistiCenter at Rohnert Park to Ferguson, one of the largest distributors of plumbing and HVAC products. Surrounded by forest preserve, Prairie Stone business, We arepleased to announce the lease of LogistiCenterSM at Louisville Airport Building 3 to Fisher & Paykel Healthcare, a leading designer, manufacturer and marketer of products and systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnea. After Allstate agreed to sell the property to Dermody about a year ago, the village of Glenview also agreed to an incentive package for the developer as the project stands to generate around $135 million in tax revenue. Dermody Properties 4,505 followers 1w Edited Olympic Distribution Center, located at 8220 South 212th Street in the Kent Valley, is a 390,150-square-foot facility with a new, 4,885-square-foot. Dermody Properties Breaks Ground on The Logistics Campus - Dermody Dermody Properties will preserve 50 years of mature plant life and ground cover on the periphery of the site, with plans to relocate hundreds of trees from the interior of the office campus to locations around the future industrial buildings. The remaining 125 acres will be available for multiple build to suits or a single building of up to 2 million square feet. Shanahan Enterprises gets $12M on South Elgin property, MAT Limited buying, redeveloping Damen Silos for $6.5M, Pulte makes progress on Polo Club development plan in Naperville, Picket signs save picket fences: Transwestern rebuffed by Chicago suburb, Keeper seeks $7M for planned Glenview mansion, Northbrooks Green Acres Country Club development saga drags on, Sachtleben eyes 1M sf Carpentersville industrial project, Bears rushing the end zone on $197.2M Arlington Racecourse deal. Our customers and the surrounding communities will benefit from this transformation of the office campus into modern logistics buildings all with access to transportation, labor and amenities unparalleled relative to the entire metro Chicago market.. He is based in the company's Bellevue, Washington office and works closely with Phil Wood, also a Partner in the region. The facilities feature between 61,236 and 161,120 square feet and between six and 21 dock high doors. Dermody brings a breadth of experience in the federal funds allocation process, land use policy, and cost structures all critical in working with federal agencies, stakeholders, and investors. Dermody Properties leases Fontana building to Tremco Eugene D. Meardith to . This category only includes cookies that ensures basic functionalities and security features of the website. Dermody is oversubscribed again for its second industrial fund - PERE Dermody Properties Hires David Jennings as Senior Vice President Dermody Properties Breaks Ground On Logistics Campus Eric DeGrechie 10/28/2022 GLENVIEW, IL After announcing last week it had officially acquired the 232-acre former Allstate corporate. In November 2021 Allstate Corporation announced it was selling 232 acres of the Allstate campus to Dermody Properties for $232 million. The 232-acre site will become a logistics-focused campus designed to serve logistics customers who value immediate access to local consumers, including the high density and affluent communities of the northern and northwest suburbs of Chicago. Buildings can be consolidated to create larger footprints or modified to deliver cross-dock buildings. 2 min read. Amys depth of experience and knowledge in the logistics real estate industry will prove valuable to our team and our clients, said Michael C. Dermody, Chairman and Chief Executive Officer for Dermody Properties. Construction has commenced on five buildings totaling 1.2 million square feet, scheduled for completion in the second and third quarters of 2023. It's a departure from the plan first announced by Harvey Hanna & Associates, which purchased the 142-acre property in 2017 before selling about 88 acres to Dermody this month for about $21.6 million. Curry brings more than 22 years of logistics real estate experience to the role, where she will be responsible for the growth of the companys existing and future investment platforms. 215 Dermody Rd, Bennington, VT 05201 | MLS# 4929831 | Redfin We are excited to welcome Dermody Properties to Glenview and look forward to many years of partnership.. Allstate reaches $232M deal to sell Northbrook campus - Chicago Tribune He will be a valuable addition to our team as we continue to find new investment opportunities in our region, said Robert Borny, East Region Partner at Dermody Properties. Dermody Properties plans to build at Route 322 and Locke Avenue Meet the Full Team Once complete, The Logistics Campus will offer approximately 3.2 million square feet with flexibility to accommodate build-to-suits. Dermody Properties has 3,078 competitors including QIC (Australia), JLL (United States (USA)) and Orion Office REIT (United States (USA)).. Popular M&A news in Real Estate. Dermody Properties buys Rancho Cordova land for future - One News Page In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. At Dermody Properties and prior to his retirement at the end of 2021, Preston led the East Region office and was responsible for all land and building acquisitions, build-to-suit projects . We also use third-party cookies that help us analyze and understand how you use this website. During the third quarter of 2022 some 37.5 million square feet of warehouse space was under construction in and around the Windy City, beating out the previous record of 30.1 million square feet in the second quarter of 2021, according to a Colliers report. News September 20, 2022 Dermody Properties Hires Pearce Dermody as Vice President and Investment Manager We recently announced that we have hired Pearce Dermody as Vice President and Investment Manager in Nevada. The Dermody Properties team is made up of some of the nation's top logistics, e-commerce and industrial real estate experts, which includes a leadership team and regional teams with decades of experience throughout the country. A privately held real estate investment management. Webroke ground Thursday, Oct. 27 on The Logistics Campus, a planned, 10-building development.