{"id":1004193247,"date":"2017-10-09T08:20:17","date_gmt":"2017-10-09T16:20:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193247"},"modified":"2022-12-06T20:14:09","modified_gmt":"2022-12-07T04:14:09","slug":"westmount-grows-chicago-area-industrial-portfolio-by-2-msf","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westmount-grows-chicago-area-industrial-portfolio-by-2-msf\/","title":{"rendered":"Westmount Grows Chicago-Area Industrial Portfolio by 2 MSF"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004193248\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004193248\" data-attachment-id=\"1004193248\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westmount-grows-chicago-area-industrial-portfolio-by-2-msf\/westmount-industrial-asset\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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=\"Westmount industrial asset\" data-image-description=\"&lt;p&gt;Westmount industrial asset&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Westmount industrial asset&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png?w=800\" loading=\"lazy\" class=\"wp-image-1004193248 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png\" alt=\"One of Westmount's industrial assets\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Westmount-industrial-asset.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004193248\" class=\"wp-caption-text\">One of Westmount&#8217;s industrial assets<\/p><\/div>\n<p>Westmount Realty Capital completed the third wave of acquisitions in the greater Chicago area, adding 2.4 million square feet to its <a href=\"https:\/\/www.commercialsearch.com\/news\/kraft-heinz-inks-261-ksf-lease-in-garland-tx\/\">industrial portfolio<\/a>. The latest purchase consisted of 21 buildings located throughout nine submarkets, 16 of which are in close proximity to the Chicago O\u2019Hare International Airport and the Illinois International Port District. The rest of them are built north of Chicago, from Lake County, Ill., to Kenosha, Wisc.<\/p>\n<p>The properties vary in size and design and are all well-maintained,\u00a0with an occupancy of 82 percent. More than half of the buildings offer additional value creation opportunities in both the near and long term. \u00a0<\/p>\n<p>Westmount\u00a0acquired its first industrial\u00a0properties, totaling 1.5 million square feet, in 2014. Two years later, the company\u00a0doubled the portfolio&#8217;s square footage. Following\u00a0its latest acquisition, Westmount\u2019s Chicago-area assets span more than 5 million square feet, while its Midwest footprint is roughly\u00a08 million square feet. To better manage its growing portfolio, the company announced that it plans to expand the local property management agency into a regional office located in Chicago.<\/p>\n<p><em>Image courtesy of Westmount Realty Capital<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most of the 21 properties making up the portfolio are located near the Chicago O\u2019Hare International Airport and the Illinois Port District. <\/p>\n","protected":false},"author":1064,"featured_media":1004193248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21748,13,21742],"tags":[33100],"class_list":["post-1004193247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-westmount-realty-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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