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
+1 312 470 3832
michael.tenteris@cushwake.com

ADAM TYLER

Vice Chair

+1 312 470 1840
adam.tyler@cushwake.com

JIM CARPENTER

Vice Chair
+1 312 470 3830
jim.carpenter@cushwake.com

MEGAN BARKER
Senior Associate
+1 312 424 8202
megan.barker@cushwake.com 

STEVE BASS

Executive Vice President

NAI Hiffman
+1 630 317 0738
sbass@hiffman.com  

JACK BRENNAN

Executive Vice President

NAI Hiffman
+1 630 317 0754
jbrennan@hiffman.com   

JEFF ALTENAU
Vice Chair
+1 312 470 2355
jeff.altenau@cushwake.com 

ZACH YARNOFF

Managing Director
+1 312 424 8205
zach.yarnoff@cushwake.com 

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