Westmount Realty, Stockbridge Buy Chicago-Area Industrial Portfolio

The purchase includes 38 buildings in several sought-after submarkets including O’Hare, Lake County and Elgin.

Westmount Realty Capital and Stockbridge have acquired a 1.7 million-square-foot industrial portfolio in the Chicago area comprising 38 buildings. Stockbridge purchased the assets on behalf of its Value Fund III, closing the deal several months after it acquired a 6.3 million-square-foot portfolio across nine markets in the U.S. The buyers plan to enhance operations through a light renovation program.

The assets are located in several sought-after industrial submarkets in the Chicago-area, which include O’Hare, Lake County and Elgin. Approximately half of the space is located in the O’Hare submarket on 47 acres of contiguous land alongside the O’Hare Western Access Project, a multi-billion infrastructure project that will provide 17 miles of new roads.

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