Dayton Street Partners buys suburban industrial property amid strong market
The Chicago firm is continuing its push into the area with the 172K sf complex in Alsip
Dayton Street Partners is continuing its push into the hot Chicago-area industrial market, acquiring a south suburban facility in a sale-leaseback deal.
The Chicago-based firm partnered with an undisclosed institutional investor to pay $31.5 million for the 42-acre property at 12161 South Alsip Avenue in Alsip.
The seller was Experior Transport, which will then lease it back for 15 years, Dayton Street said.
The property near the Tri-State Tollway includes a 100,000-square-foot warehouse, a 30,000-square-foot maintenance facility and 42,000-square-feet of office space and driver amenities. It also features a fueling station, truck scale and parking for more than 1,000 cars, truck cabs and trailers.
Joshua Hearne of Cawley Chicago represented Dayton Street and its partner in the transaction.
Dayton Street teamed up with Denver-based Black Creek Group on two large speculative industrial buildings in the hot O’Hare submarket, and recently bought an industrial building west of Fulton Market that it is maintaining as a warehouse to serve the West Loop.