A large parcel of land at the Luther Forest Technology Campus is being acquired by a Chicago area developer called InSite Real Estate for a potentially large project.
The sale of the land, which is under contract, was first reported by the Business Review, which added that InSite is one of two developers scouting the region for land for a distribution center as large as 1.1 million square feet.
The land is being sold by MRFA LLC, an entity that is affiliated with D.A. Collins Cos. of Wilton that has been working with the non-profit entity that owns the tech park, the Luther Forest Technology Campus Economic Development Corp., to develop vacant land.
InSite did not immediately have a comment on the transaction when contacted Wednesday. Officials at D.A. Collins could not immediately be reached for comment.
The Business Review also said that one of the potential tenants of the distribution center could be Lowe’s, the home improvement retailer.
To date, the biggest business at Luther Forest has been GlobalFoundries’ Fab 8 computer chip factory, which employs 3,000 people. A company called Key Capture Energy has also broken ground on a battery-storage facility that is now under construction.
The tech park was originally designed to host semiconductor equipment suppliers to GlobalFoundries and similar tech companies. However, Luther Forest has had trouble attracting those types of tenants since GlobalFoundries came to the park a decade ago.