JLL completed the sale of a 314,028-square-foot FedEx Ground distribution facility located at 5959 W. Howard Street in Niles, Illinois.
JLL represented the seller in the transaction. Centaur Capital Partners and Talos Capital acquired the asset. The JLL Investment Sales and Advisory team was led by Managing Director Kurt Sarbaugh, Senior Managing Director Sean Devaney and Senior Managing Director John Huguenard.
The single-tenant industrial facility sits on 37.4 acres in the heart of Cook County’s supply-constrained North Cook County industrial submarket. Constructed in 2015 as a build-to-suit for FedEx Ground Package Systems Inc., the property includes 291,511 square feet of warehouse space, 14,937 square feet of office space, a 5,180-square-foot maintenance facility and a 2,400-square-foot guard building.
A key component of the offering includes an additional 11.2 acres of supplemental land that FedEx currently utilizes for trailer and auto parking. “Investors were drawn to the uniqueness of the site and the mission-critical nature of the operation,” said Sarbaugh.
