In the News Harvard, IL
The 1.5 million sft. former Motorola manufacturing and distribution facility in Harvard IL has been purchased by Pinnacle Fund Management, LLC, an affiliate of Las Vegas-based CAI Investments, LLC.
The company is not an end user but a vertically integrated developer which possesses significant experience in developing property and the capital needed to fund and complete projects. In the coming weeks, the City of Harvard will meet with representatives of the buyer to come to a mutually agreed upon phased revitalization plan to resolve any life-safety issues at the facility, bring it back into compliance and enable occupancy.
The new owners have already started marketing the property for tenancy with the goal of “creating jobs and generating tax revenue for the local economy”, according to a company spokesman. Targets include data centers, cold storage distribution, third party logistics, light to heavy manufacturing, micro chip manufacturing and cannabis grows.
The company’s development/buildout timeline will be determined by needs of the tenants it attracts.
Completed in 1997, the property boasts 1.5 million sft. throughout four interconnected buildings designed for manufacturing distribution, office and administrative uses. An integrated material handling system serves more than 974,000 sft. of manufacturing space. Other features include an 1,100-person cafeteria, on-site daycare facilities, a 500+ person auditorium and two heliports. The property is located on 300 acres of land finished with ponds and biking and running trails and with the potential for further development. Link to online brochure/details