{"id":2345,"date":"2023-11-09T09:01:02","date_gmt":"2023-11-09T09:01:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=2345"},"modified":"2023-11-14T14:53:19","modified_gmt":"2023-11-14T14:53:19","slug":"blackstone-chicago-industrial-real-estate-acquisition-137m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/blackstone-chicago-industrial-real-estate-acquisition-137m\/","title":{"rendered":"Blackstone Doubles Down on Chicago Industrial Real Estate with New Acquisition"},"content":{"rendered":"

Blackstone \u2014 the world\u2019s largest investment management company \u2014 is betting big on industrial real estate in Chicago<\/a> with a new acquisition totaling $137 million. The firm has acquired four industrial properties near O\u2019Hare International Airport with three located in Franklin Park, Ill., and one in Elk Grove, Ill.<\/p>\n

The properties ranged in price from $18 million to $56.5 million and were all acquired from CenterPoint Properties \u2014 a real estate investment firm based in Oak Brook, Ill., that owns and operates warehouses across the United States.<\/p>\n

The continuous interest displayed by Blackstone for the Chicago industrial market highlights the city\u2019s continuing logistical importance, as well as the importance of industrial real estate as a focus for the company. To that end, Chicagoland is still the largest industrial market in the U.S.<\/a> today with a total inventory of approximately 1 billion square feet of industrial space, or around 5% of the nation\u2019s entire stock. Chicago added an additional 27 million square feet of industrial space in 2022. Check out available industrial space for lease in the most competitive markets in the U.S.:<\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t
Industrial space in Dallas<\/a><\/td>Industrial space in Columbus<\/a><\/td>Industrial space in Nashville<\/a><\/td>\n<\/tr>\n
Industrial space in Phoenix<\/a><\/td>Industrial space in Indianapolis<\/a><\/td>Industrial space in Baltimore<\/a><\/td>\n<\/tr>\n
Industrial space in Chicago<\/a><\/td>Industrial space in Denver<\/a><\/td>Industrial space in Boston<\/a><\/td>\n<\/tr>\n
Industrial space in Houston<\/a><\/td>Industrial space in Seattle<\/a><\/td>Industrial space in Los Angeles<\/a><\/td>\n<\/tr>\n
Industrial space in Philadelphia<\/a><\/td>Industrial space in Atlanta<\/a><\/td>Industrial space in Cleveland<\/a><\/td>\n<\/tr>\n
Industrial space in Charlotte<\/a><\/td>Industrial space in Cincinnati<\/a><\/td>Industrial space in Portland<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

Blackstone has a history of Chicago-area industrial acquisitions from CenterPoint. In early 2021, the investment giant acquired a seven-property, 1.1-million-square-foot industrial portfolio from the same seller for a total of $151 million. And, in 2020, Blackstone bought an additional 27 properties from CenterPoint for $400 million. Blackstone\u2019s quality industrial properties netted the firm $3.1 billion earlier this year, when it sold a 14-million-square-foot portfolio to Prologis.<\/p>\n

While Blackstone has reported decreasing sales in real estate during the current year, the firm recently sold an office building in Washington, D.C. for $305 million. With $332 billion in investor capital under management, Blackstone is the largest owner of commercial real estate globally and focuses on undermanaged and well-located assets. While it operates properties from all asset classes, the firm has recently been downsizing its office and retail footprint and doubling down on industrial.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment giant bought a four-property industrial portfolio from CenterPoint Properties, a real estate investment firm that provided Blackstone with several other industrial properties in Chicago in previous years.<\/p>\n","protected":false},"author":71,"featured_media":2346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[25],"class_list":["post-2345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial-real-estate-news","tag-chicago-il"],"acf":[],"yoast_head":"\nBlackstone Pays $137M for More Chicago Industrial Real Estate<\/title>\n<meta name=\"description\" content=\"The investment giant bought four properties near O'Hare International from CenterPoint, doubling down on Chicago's industrial market.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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