Realterm Logistics Pays $14.8M for Fulton Market West Industrial Site
Commercial brokerage firm ACO Commercial, which brokered the sale on behalf of a private investor group, reports that the 2.8-acre parcel that traded takes up almost an entire city block (bounded by Lake, Hoyne, Damen and Walnut) and is fully leased to Standard Equipment Co.
CHICAGO—Realterm Logistics of Annapolis, MD has acquired a nearly three-acre parcel in Fulton Market West for $14.8 million in cash, Globest.com has learned.
Commercial brokerage firm ACO Commercial, which brokered the sale on behalf of a private investor group, reports that the 2.8-acre parcel that traded takes up almost an entire city block (bounded by Lake, Hoyne, Damen and Walnut) and is fully leased to Standard Equipment Co. ACO Commercial’s George Toscas arranged the deal.
The property, assembled over several decades by the private ownership group, is adjacent to the $72.9-million CTA Green Line El Station currently under construction.
“This was a tremendous opportunity to be in a high demand area,” says Toscas, ACO’s founder and principal. “Not only are large parcels such as this hard to come by, but the access the site provides to the city proper and supply chain and distribution infrastructure via multiple interstates is unparalleled.”
The property features four brick buildings totaling 43,828 square feet and a large lot used for truck and trailer parking. It has served as Standard Equipment’s headquarters since 1986. The nationally recognized provider of environmental equipment solutions for companies and municipalities will relocate its operations to Elmhurst in the first quarter of 2020, according to ACO Commercial.
Walter Murphy, principal, and Sean Austin, VP, of Lee & Associates’ Illinois office recently represented Standard Equipment in its long-term lease of a 25,649-square-foot truck terminal at 625 Route 83 in Elmhurst, according to a report in the Daily Herald. Tim McCahill, principal, and Joe Feeney, senior associate, of Lee & Associates of Illinois, represented the owner in the transaction.
Realterm Logistics is an owner and manager of high flow-through (HFT) logistics serving the transportation industry. In January, the company reported it had closed on the acquisition of a 153,000-square-foot final mile distribution center in the Mid-Counties submarket of Los Angeles.