Distribution Realty, Everwest selling nearly 1M sf industrial portfolio near O’Hare

The duo is seeking more than $90M for the 8-building complex

Aug.August 01, 2018 05:00 PM

Regent O’Hare Business Center

Distribution Realty Group and Everwest Real Estate are selling a 956,000-square-foot industrial portfolio near O’Hare International Airport, hoping to cash in on investors looking for a piece of the hot submarket around the airport.

The eight-building Regent O’Hare portfolio covers 56 acres and is roughly bounded by Higgins, Busse and Landmeier roads in Elk Grove Village. The joint venture is seeking at least $90 million. The buildings range in size from 21,000 to 501,000 square feet.

The complex is 93 percent leased, according to marketing materials from Colliers International, which is listing the properties.

The brokerage said infrastructure improvements around O’Hare are eliminating some competing industrial properties, giving the buyer the opportunity to raise rents, Colliers said.

The overall Chicago industrial market has been hot, with rents hitting a record high in the second quarter.

Related Articles

Stockbridge Real Estate CEO Stephen Pilch

Stockbridge Capital makes big bet in suburban industrial stronghold

One Lincoln Centre and Balfour Pacific CEO Mark Scott (Credit: Google Maps, iStock)

Blackstone unloads large office complex at slight discount

905 West Fulton Market and DineAmic founders David Rekhson and Lucas Stoioff (Credit: Thor Equities)

Prime & Provisions owner inks lease for new restaurant in Fulton Market

Thor Equities CEO Joe Sitt and a rendering of 800 West Fulton Market (Credit: SOM)

Thor Equities lands $144M construction loan for new tower

Flexport CEO Ryan Petersen and 333 N. Green Street (Credit: Getty Images, Sterling Bay)

Sterling Bay inks tech firm to latest lease at Fulton Market HQ

Chicago Skyline (Credit: iStock)

Windy City’s real estate blown away by other cities

President Donald Trump, Trump International Hotel & Tower 401 N. Wabash Avenue and Cushman & Wakefield CEO Brett White (Credit: Getty Images, Cushman and Wakefield)

Trump Tower has new leasing broker for failing retail space

Ald. Daniel La Spata (1st) and 2620 Hirsch Street in Humboldt Park (Credit: Google Maps)

RBH Group faces setback in its Teachers Village resi project