DERMODY PROPERTIES NEWS RELEASE
CHICAGO – A groundbreaking was held today for the Winpak Portion Packaging manufacturing facility in Dermody Properties’/ DP Partners’ LogistiCenter at Sauk Village, Ill. Participants included Mayor Lewis Towers of Sauk Village, Illinois State Representative Anthony DeLuca and representatives from Winpak Portion Packaging, Dermody Properties/DP Partners and Principle Construction.
Winpak is a leading multi-national packaging company and currently operates a manufacturing facility in nearby South Chicago Heights, producing plastic cups and trays for food and beverages. Their new 267,000-square-foot facility will be located on a 28-acre site. Principle Construction has begun work on the project and will complete the building envelope by November. The facility will be complete by March.
LogistiCenter at Sauk Village is a 325-acre Class A business park.
The State of Illinois provided a $1.6 million business investment package to Winpak Portion Packaging to help fund the new state-of-the-art manufacturing facility, which complements the company’s $30 million investment for land, building and equipment. The office of Governor Pat Quinn, the Illinois Department of Commerce and Economic Opportunity (DCEO) and Mayor Lewis Towers’ office were all instrumental in facilitating this successful transaction.
The Dermody Properties/ DP Partners team that worked with Winpak during the process included Andy James, midwestern regional partner in Chicago, and John Atwell, COO. Justin Fierz and Brian Vanosky of Lee & Associates represented Winpak, and George Cibula of Darwin Realty represented DP.
About Dermody Properties
Dermody Properties is a privately held national industrial real estate development company. It is the parent company of DP Partners. Founded and headquartered in Reno, it has regional offices in Portland, Ore., Philadelphia, and Chicago, as well as property holdings in Las Vegas, Harrisburg, Pa., Savannah, Ga., and southern New Jersey. Over the last three years, Dermody Properties/DP Partners has developed and purchased more than 4.5 million square feet and leased approximately 1 million square feet annually. Dermody Properties currently has more than 3.5 million square feet of industrial space that is 90 percent occupied and is actively doing build to suits and joint ventures throughout the nation. To learn more about Dermody Properties visit www.Dermody.com.
About LogistiCenter at Sauk Village
Dermody Properties/DP Partners began developing LogistiCenter at Sauk Village in March of 2005. Since then, Dermody Properties/DP Partners has developed three facilities totaling 1,531,630 square feet. When completed, the 325-acre business park will accommodate approximately 5,000,000 square feet of high-cube distribution and manufacturing space and attract between 500 and 1,500 jobs to the region.
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