SparrowHawk Real Estate Strategists has acquired a 920,000-square-foot portfolio of industrial properties in Chicago, Illinois for approximately $45 million. The portfolio includes distribution, light industrial and office/warehouse buildings. It comprises 14 buildings on 11 properties, all infill locations, situated across six of Chicago’s leading submarkets and centered around O’Hare International Airport.
“The portfolio offers high quality, functional real estate with a strong and diverse tenant base and stable income,” says Alfredo Gutierrez, founder of SparrowHawk. “Investors will have the opportunity to enter or expand holdings in the second largest industrial market in the United States, while providing a geographic diversification among the top submarkets. The combination of single-tenant and multi-tenant assets, coupled with the ideal size, appropriate clear heights, depths and finish allow the portfolio to best serve the needs of the broadest tenant audience in the market.”