Realterm expands Midwest presence with Chicago-area IOS acquisition

Realterm announced the acquisition of 9655 Industrial Drive, an industrial outdoor storage (IOS) maintenance facility in Bridgeview, Illinois, Chicago’s southwest suburban industrial corridor.

Located on a 3.9-acre site, the 28,985-square-foot maintenance facility offers 10 oversized drive-in doors as well as a 6,000-square-foot office. The site is fully secured with two points of ingress and egress.

The entire maintenance facility is leased to Carrier Corporation, a subsidiary of the global HVAC and refrigeration solution provider.

“The Chicago industrial market possesses a limited supply of properly zoned, in-fill developable land sites, creating significant barriers to entry,” said Ed Brickley, Managing Director, Senior Fund Manager at Realterm. “These supply constraints coupled with the region’s extensive transportation infrastructure provide the exact fundamentals we seek when evaluating investment opportunities.”

9655 Industrial Drive offers direct access to major highway infrastructure in the Chicago metro area, providing connectivity to regional and national distribution networks. O'Hare International Airport, one of the world’s busiest air cargo hubs, can be reached in under 30 minutes.

“This acquisition reflects exactly what we look for in an asset: a highway adjacent, functional maintenance facility with low site coverage and a fully secured and lit parking lot,” said Gianni Vissat, Vice President, Investments, Central Region. “9655 Industrial Drive delivers all of that, and Carrier’s long-term tenancy validates the location's operational appeal.”

Matt Knafel from KWILL Real Estate represented Realterm in the transaction.