Westmount, Stockbridge JV acquires 1.7-MSF Chicagoland industrial portfolio

Westmount Realty Capital and Stockbridge have partnered to acquire a 1.7 million-square-foot light industrial portfolio in the Chicago region. Stockbridge acquired the portfolio on behalf of the firm’s Value Fund III, a closed-end value-add vehicle. The portfolio includes 38 buildings in some of Chicago’s most sought-after submarkets including O’Hare, Lake County and Elgin. With this acquisition, Westmount now has more than 6.3 million square feet of industrial space in Chicagoland.

The light industrial portfolio is currently 95 percent leased to more than 280 tenants. The portfolio’s 38 buildings were constructed in the 1970s through 2000s.

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