Original Post: REJournals.com
Oak Brook, Ill. – Dec. 13, 2017 – After acquiring a 2.35-million-square-foot industrial portfolio in Chicago earlier this year, Dallas-based Westmount Realty Capital, a commercial real estate development and investment company, has sold one of its Chicago holdings. The 310,775-square-foot warehouse and distribution facility near Midway Airport was acquired by High Street Real Estate Capital.
Andrew Maletich, Executive Vice President with Cawley Chicago represented Westmount and High Street in the transaction.
Located at 4404 West Ann Lurie Place, the property was developed in the mid-1970s and modernized in 2010 by the previous owner, KTR Capital. The building is leased to three tenants, including Gold Eagle, BT Wholesale and Southwall Insulating Glass. The building is situated on 21.7 acres within the Crawford Industrial Park, less than one mile from the four-way interchange at I-55 and Pulaski Road. It features 22-foot clear ceilings, 69 truck docks, two drive-in doors and parking for 130 cars. Westmount acquired the property in 2014.
“After fulfilling our investment objective in a three-year time-span, we determined it was an opportune time to work toward the disposition of this asset,” said Cliff Booth, President and CEO of Westmount. “Having amassed a portfolio of 5 million square feet since 2014, we remain committed to and bullish on the Chicago industrial marketplace.”
Westmount’s Chicago portfolio currently includes46 properties totaling 4,675,795 million square feet of space. The occupancy rate of the portfolio is 92.4 percent.
About Cawley Chicago
Cawley Chicago is suburban Chicago’s dominant submarket specialist in commercial real estate; specializing in leasing, sales, investment disposition/acquisition, consulting and asset/property management. Cawley Chicago helps business and property owners understand and create value. Founded in 1998, the firm has completed transactions totaling over $1 billion.
About Westmount Realty
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years. Westmount is seen as an innovator and leading edge company in the industry and is a trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.