{"id":1004135700,"date":"2016-01-27T09:51:16","date_gmt":"2016-01-27T17:51:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004135700"},"modified":"2020-04-23T05:17:25","modified_gmt":"2020-04-23T13:17:25","slug":"american-realty-advisors-nabs-prime-industrial-asset-in-chicago-metro","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/american-realty-advisors-nabs-prime-industrial-asset-in-chicago-metro\/","title":{"rendered":"American Realty Advisors Nabs Prime Industrial Asset in Chicago Metro"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004135701\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004135701\" data-attachment-id=\"1004135701\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/american-realty-advisors-nabs-prime-industrial-asset-in-chicago-metro\/i-88-gateway-logistics-center_2477_1000x667\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg\" data-orig-size=\"1000,667\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"I-88-Gateway-Logistics-Center_2477_1000x667\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg?w=1000\" class=\"wp-image-1004135701 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg\" alt=\"I-88 Gateway Logistics Center\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/I-88-Gateway-Logistics-Center_2477_1000x667.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004135701\" class=\"wp-caption-text\">I-88 Gateway Logistics Center<\/p><\/div>\n<p><strong>Chicago<\/strong>\u2014The I-88 Gateway Logistics Center in North Aurora, Ill., has found new ownership in <a href=\"https:\/\/www.americanreal.com\/\" target=\"_blank\" rel=\"nofollow\">American Realty Advisors<\/a>. The Glendale, Calif.-based company acquired the 604,565-square-foot industrial asset for an undisclosed price from a joint venture between <a href=\"https:\/\/www.opus-group.com\/\" target=\"_blank\" rel=\"nofollow\">The Opus Group<\/a> and <a href=\"https:\/\/www.usrealco.com\/\" target=\"_blank\" rel=\"nofollow\">USAA Real Estate Co.<\/a> Jeffrey Devine and Steven Disse of <a href=\"https:\/\/www.colliers.com\/en-us\" target=\"_blank\" rel=\"nofollow\">Colliers<\/a> represented the seller in the transaction.<\/p>\n<p>Located on a 32.5-acre site roughly 40 miles west of the Chicago CBD, the facility is fully occupied by <a href=\"https:\/\/www.midwestwarehouse.com\/\" target=\"_blank\" rel=\"nofollow\">Midwest Warehouse &amp; Distribution System Inc.<\/a> The company <a href=\"https:\/\/www.commercialsearch.com\/news\/i-88-gateway-logistics-center-opens\/\" target=\"_blank\">signed a long-term lease agreement<\/a> through 2022 at the speculative industrial building that was completed in October 2014. The facility incorporates the following features:<\/p>\n<ul>\n<li>32-foot clear heights;<\/li>\n<li>60 cross-dock truck doors;<\/li>\n<li>Four drive-in doors;<\/li>\n<li>ESFR fire protection and T5 lighting;<\/li>\n<li>A fully air-conditioned, food-grade facility;<\/li>\n<li>Secured parking with 63 trailer stalls;<\/li>\n<li>46 trailer staging bays with an additional 63 future trailer stalls; and<\/li>\n<li>300 parking spaces.<\/li>\n<\/ul>\n<p>\u201cOverall, this is the type of core industrial property that fits very well in our portfolio,\u201d said Ray Kivett, managing director of investments at American Realty Advisors. \u201cThe center\u2019s great location, strong tenant profile, and high-quality construction are three of the factors that we believe will provide our investors with an attractive cash flow stream and overall return profile.\u201d<\/p>\n<p>American Realty Advisors has more than $7.4 billion in assets under management and has been providing real estate investment management services for more than\u00a027 years. The company recently expanded its retail portfolio with <a href=\"https:\/\/www.commercialsearch.com\/news\/ara-goes-shopping-in-los-angeles\/\" target=\"_blank\">the acquisition of Criterion on the Promenade<\/a> in Santa Monica, Calif.<\/p>\n<p><em>Image courtesy of The Opus Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 604,565-square-foot industrial asset in the Chicago metropolitan area has landed itself a new owner.<\/p>\n","protected":false},"author":192,"featured_media":1004135702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21748,21783,13,21742],"tags":[],"class_list":["post-1004135700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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