EXECUTIVE SUMMARY
Cushman & Wakefield’s National Industrial Advisory Group has been retained by ownership as its exclusive adviser in the sale of the Northwest Logistics Park Portfolio (the “Portfolio”), a collection of eleven (11) highly functional assets totaling 2,641,942 square feet located in Elgin, IL.
The Portfolio is situated within two master planned industrial parks – Northwest Business Park and Northwest Corporate Park, located in the I-90 Corridor submarket. The multi-phase industrial parks are highly desirable due to their superior interstate access, proximity to a well-qualified and diverse labor pool, and favorable economics due to low Kane County property taxes.
The Portfolio is 90% leased to twenty three (23) tenants, the majority of which have displayed their commitment to the sites through numerous renewals and expansions. With 3.3 years of weighted average lease term remaining and a weighted 21% mark-to-market opportunity, investors have the ability to capture higher yields in the near-term with a dedicated tenant base.
The offering represents the opportunity to acquire over 2.6 million square feet of Class A logistics assets that are 90% leased at a significant discount to replacement cost. Investors have the potential to secure a Portfolio with strong in-place cash flow, coupled with the ability to add value through mark-to-market of near-term expirations.
INVESTMENT HIGHLIGHTS
- Ideal Industrial Park Setting with Premier Amenities
- Short WALT with Mark-to-Market Opportunity
- Ideal Tenancy
- Institutionally Owned & Maintained Class A Assets
- Strong Market Fundamentals
OFFERING AT A GLANCE
Size: | 2,641,942 SF |
Building(s): | 11 |
Tenant(s): | 23 |
Leased: | 90% |
WALT: |
3.3 Years |
Average Clear Height: | 29' |
Average Year Built: | 2002 |
CONTACTS
MIKE TENTERIS Vice Chair |
ADAM TYLER Vice Chair +1 312 470 1840 |
JIM CARPENTER Vice Chair |
MEGAN BARKER |
STEVE BASS Executive Vice President NAI Hiffman |
JACK BRENNAN Executive Vice President NAI Hiffman |
JEFF ALTENAU Vice Chair +1 312 470 2355 jeff.altenau@cushwake.com |
ZACH YARNOFF Managing Director |
CUSHMAN & WAKEFIELD NATIONAL INDUSTRIAL ADVISORY GROUP
CENTRAL
Jim Carpenter
Mike Tenteris
Adam Tyler
Megan Barker
MOUNTAIN WEST
Will Strong
Michael Matchett
Molly Hunt
Jack Stamets
Madeline Warren
WEST
Jeff Chiate
Rick Ellison
Bryce Aberg
Matthew Leupold
Aubrie Monohan
FLORIDA
Mike Davis
Rick Brugge
Rick Colon
Dominic Montazemi
SOUTHWEST
Jim Carpenter
Jud Clements
Robby Rieke
Trevor Berry
NORTHEAST
Gary Gabriel
Gerry Blinebury
Kyle Schmidt
Jon Carpenter
Graham Savage
SOUTHEAST
Stewart Calhoun
Casey Masters
Drew Stanford