(Algonquin, IL, June 10, 2022) – NorthPoint Development, in collaboration with the Village of Algonquin, hosted a groundbreaking ceremony yesterday, Thursday, June 10, to unveil the future Algonquin Corporate Center. Located at Huntley Road & Longmeadow Parkway, Algonquin Corporate Center will consist of five buildings totaling 1.69M square feet that sprawl across nearly 148 acres.
NorthPoint Development estimates that this $152M investment will create over a thousand direct and indirect jobs. Development of Algonquin Corporate Center is anticipated to generate more than $25 million in wages, as well as $1.1M in payroll taxes to the Illinois state government.
“We are really excited to be here,” said Tom George, Vice President of Development at NorthPoint Development. “We really value our long-term relationships with our communities, with our neighbors, and with our tenants.”
Algonquin Corporate Center is located within minutes from Illinois Route 31 & 72, Interstate 90, and O’Hare International Airport, allowing for easy regional and local industrial distribution.
“We have built a public-private partnership with NorthPoint to make this a mutually beneficial relationship,” said Debby Sosine, Village President. “With our commitment to a long-term vision that yields the right user in the right place, patience proves successful. This development will be a catalyst for future growth in the corporate campus, a true source of jobs, both temporary and permanent, in addition to a base to support our schools, other taxing bodies, and our residents. Algonquin’s commitment is to the future.”
“It’s a great day for the Village of Algonquin, NorthPoint Development, and the people of this region,” said Jason Shallcross, Community Development Director. “This project more than triples the amount of industrial/flex space in the Village of Algonquin. And in doing so, it breathes new life into our planned industrial/corporate campus. We are hopeful that this is the first of many wonderful projects to come.”
Speakers at the groundbreaking ceremony included Debby Sosine, Village President, Jason Shallcross, Community Development Director, and Tom George and Christian Evangelista with NorthPoint Development.
To learn more about NorthPoint Development and Algonquin Corporate Campus, please visit www.beyondthtecontract.com/.
About NorthPoint Development
Since 2012, NorthPoint Development has raised more than $9.5 billion in capital, developed and managed more than 126 million square feet of industrial space, created more than 75,000 jobs, and supported more than 465 industrial partners across the United States. NorthPoint Development started out as a privately held commercial real estate developer specializing in industrial and multi-family development. Since then, NorthPoint has grown to a family of ten companies with an emphasis on a factory-to-front-door model. “Beyond the Contract” embodies the concept that no contract can be written to reflect everything that will occur in a complex real estate transaction. Our approach in all business relationships is to be fair and to operate by the “Golden Rule.”
Visit beyondthecontract.com or follow @NorthPointDev to learn more.