Westmount Adds Suburban Chicago Industrial Space

Dallas Firm Finds Partner in Stockbridge to Purchase Prime Properties Across Four Parks

Westmount Realty Capital is upping its ante on the Chicago-area industrial sector while also expanding its regional office.

The closely held Dallas firm is teaming with Stockbridge, a San Francisco-based real estate investment manager, to pick up a 1.7 million-square-foot industrial portfolio in prime areas of Chicago’s tight industrial sector. Terms of the deal, which Stockbridge acquired on behalf of its Value Fund III, were not disclosed, nor was the seller.

The light industrial portfolio consists of 38 buildings that were constructed from the 1970s through the 2000s across four industrial parks in submarkets that include O’Hare International Airport, Lake County and the city of Elgin. It is 95% leased to more than 280 tenants, according to a statement.

View the full CoStar article

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