Key Takeaways
- • Transwestern Investments acquired 320 Overland Drive, a 408,176-square-foot industrial facility in Chicago's I-88 Corridor, on behalf of a separate account.
- • The property was built in 2023, is fully leased, and sits on 26.79 acres in a cross-dock configuration.
- • The building offers 36-foot clear heights, 55 dock doors (expandable to 86), four drive-in doors and dedicated car and trailer parking.
- • The asset sits 1.7 miles from Interstate 88 and provides connectivity to Interstate 355 and other regional routes.
- • Andy Norman, director of acquisitions at Transwestern, cited the asset's functionality, labor access and transportation proximity as fit with its Midwest industrial strategy.
Summary
Transwestern Investments has acquired 320 Overland Drive, a 408,176-square-foot industrial facility in Chicago's I-88 Corridor, according to the firm's announcement reported by Institutional Real Estate, Inc. The acquisition was made on behalf of a separate account, and the company did not disclose the purchase price in the material available.
The property was built in 2023 and is fully leased. It sits on 26.79 acres and features a cross-dock configuration, 36-foot clear heights, 55 dock doors (expandable to 86), four drive-in doors and dedicated car and trailer parking. Its location, 1.7 miles from Interstate 88, provides connectivity to Interstate 355 and other regional transportation routes.
Andy Norman, director of acquisitions at Transwestern Investments, said the asset represents an opportunity to acquire a modern, highly functional industrial property in one of Chicago's established distribution corridors. He pointed to the building's functionality, access to a deep labor pool and proximity to critical transportation infrastructure as consistent with the fundamentals the firm seeks when investing in high-quality industrial assets across key Midwest markets.
The property was built in 2023 and is fully leased. It sits on 26.79 acres and features a cross-dock configuration, 36-foot clear heights, 55 dock doors (expandable to 86), four drive-in doors and dedicated car and trailer parking. Its location, 1.7 miles from Interstate 88, provides connectivity to Interstate 355 and other regional transportation routes.
Andy Norman, director of acquisitions at Transwestern Investments, said the asset represents an opportunity to acquire a modern, highly functional industrial property in one of Chicago's established distribution corridors. He pointed to the building's functionality, access to a deep labor pool and proximity to critical transportation infrastructure as consistent with the fundamentals the firm seeks when investing in high-quality industrial assets across key Midwest markets.
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