Monday, January 25, 2016

American Realty Advisors Acquires Core Industrial Asset in Metro Chicago, IL

1-88 Gateway Logistics Center, Metro Chicago, IL

Ray Kivett

Chicago, IL, Jan. 25, 2016 – American Realty Advisors announced the acquisition of the I-88 Gateway Logistics Center, a 604,565 square-foot industrial property in the metro Chicago area. The building is currently fully leased to a large distribution tenant through 2022.

According to Ray Kivett, American’s Managing Director, Investments, this acquisition will make a great addition to American’s industrial portfolio, as the purchase secures an asset with a high quality, long-term tenant in a strong market.

“Overall, this is the type of core industrial property that fits very well in our portfolio. The center’s great location, strong tenant profile, and high quality construction are three of the factors that we believe will provide our investors with an attractive cash flow stream and overall return profile,” says Kivett.

Built in 2014, the property is located in the I-88 West Industrial submarket of the Chicago MSA and is approximately 40 miles due west of the Chicago Central Business District. 

Jeffrey Devine

The property sits on a 32.59 acre site and has 32-foot clear heights, 60 cross-dock truck doors, four drive-in doors, ESFR fire protection, a fully air conditioned food grade facility, secured trailer parking with 63 trailer stalls, 46 trailer staging bays with an additional 63 future trailer stalls, and 300 parking spaces.

  “The newly constructed I-88 Gateway Logistics Center features many of the optimal attributes for an industrial property, and the center is situated within one of the strongest submarkets in the region.  

In addition, the layout of the asset provides flexibility in serving both large and medium size tenants as the space could eventually be demised down the middle to provide two cross-docked spaces,” adds Kivett.

“The property represents a high quality addition to our Chicagoland industrial portfolio that we are very excited to continue to grow,” noted Kivett.

The seller, a joint venture between Opus and USAA Real Estate Company, was represented by Jeffery Devine and Steven Disse of Colliers.
For a complete copy of the company’s news release, please contact:

Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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