O'Hare Industrial Portfolio

Chicago, IL

Acquired September 2015

At a Glance

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A seven-building portfolio in the Chicago area, the 2nd largest industrial market in the United States with approximately 1.2 billion square feet.

Investment Rationale

  • At 140 million square feet, O’Hare is Chicago’s largest industrial submarket and includes an excellent transportation network with easy access to highways, railways and airports. With little to no available land, few new buildings have been built in this infill location in the past several years.

  • The purchase price of $111 per square foot is at a discount to the estimated replacement cost.

  • Tenants are from a mix of industries, diversifying the portfolio from being overweighted in one sector. Multiple tenants have been in the park for over a decade.

  • The portfolio is strategically located in DuPage County, a county whose more diversified tax base often provides tenants with lower total occupancy costs.

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