Hunt Midwest announced on Tuesday that it will build out 700,000 square feet of Class A speculative space within SubTropolis, the world’s largest subterranean industrial park.
A first phase of 200,000 square feet is scheduled for delivery in August, while the remaining 500,000 square feet are to be finished by summer 2022.
Upon completion, the new space will be divisible from 50,000 to 300,000 square feet and available for new tenants in 90 to 120 days, so growing businesses can scale operations quickly to meet modern supply chain and speed-to-market demands, Hunt Midwest representatives said in a news release.
The last time SubTropolis underwent a speculative expansion, with 400,000 additional square feet in 2019, the entirety of that space was leased within six months of completion, Bell said in an email. The full complex is 94% leased.
Once this latest batch of speculative development wraps, SubTropolis will boast 7.7 million square feet of industrial space. The buildout will bring SubTropolis just past its halfway mark to full capacity, leaving about 6.5 million square feet of underground space available for development.