Cushman & Wakefield’s National Industrial Advisory Group has been retained by ownership as its exclusive adviser in the sale of the I-55 Corridor Portfolio. The Portfolio is a collection of three (3) Class A assets totaling 1,279,014 square feet located in Chicago’s top performing submarket.
Situated within the I-55 Corridor, the Portfolio benefits from unmatched interstate access, proximity to a deep labor pool, access to an abundance of amenities, and low Will County taxes. With immediate access to I-55 via full interchanges at Route 53 and Weber Road, the subject location makes it ideal for local and regional distribution.
The Portfolio is 100% leased to four (4) tenants with 2.9 years of weighted average lease term remaining. With a 57% mark-to-market opportunity, investors have the ability to capture immediate rental rate growth appreciation within a submarket that continues to record significant rent growth figures.
The offering represents the rare opportunity to acquire scale within the most sought-after logistics location in the Midwest with over 1.2 million square feet of highly functional and institutional-quality assets. Investors have the potential to secure fully leased product with strong in-place cash flow, coupled with the ability to add value through mark-to-market of near-term expirations.