{"id":1004199086,"date":"2017-12-05T02:09:43","date_gmt":"2017-12-05T10:09:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199086"},"modified":"2022-12-05T09:02:36","modified_gmt":"2022-12-05T17:02:36","slug":"plymouth-sheds-100m-on-chicago-area-industrial-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/plymouth-sheds-100m-on-chicago-area-industrial-assets\/","title":{"rendered":"Plymouth Industrial Sheds $100M on Chicago-Area Assets"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" data-attachment-id=\"1004199113\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/plymouth-sheds-100m-on-chicago-area-industrial-assets\/industrial-news-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.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=\"\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png?w=800\" loading=\"lazy\" class=\"alignright wp-image-1004199113 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Industrial-news.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Plymouth Industrial REIT Inc. has completed the acquisition of 15 industrial properties located in the Chicago area. The company paid BIGS Holdings, a subsidiary of Goldman Sachs, $99.8 million in exchange for the assets, which total three million square feet. Plymouth paid $20 million in cash, while a two-year, secured-term loan obtained from an affiliate of the seller covered the rest\u2014$79.8 million.<\/p>\n<p>Out of the 15 Class B properties\u00a0in the portfolio, 10 are single-tenant\u2014totaling approximately two million square feet\u2014and five are multi-tenant buildings. The\u00a0assets are 96 percent leased to a mix of manufacturing and distribution firms that\u00a0made capital investments in\u00a0the facilities. Several leases are long term. \u00a0<\/p>\n<p>Plymouth\u2019s Chairman &amp; CEO Jeff Witherell said in a prepared statement\u00a0that the REIT now owns 21 properties totaling more than 3.5 million square feet in the Chicago metropolitan area. Their occupancy level averages 95 percent. In August, the REIT acquired two <a href=\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-scores-2-indianapolis-properties\/\">Indianapolis warehouses<\/a> totaling more than 600 square feet of space in a transaction\u00a0that closed at $16.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 15-property portfolio comprises a total of three million square feet of Class B warehouse space. The seller is BIGS Holdings, a subsidiary of Goldman Sachs.<\/p>\n","protected":false},"author":1064,"featured_media":1004199113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21825,21748,13,21742],"tags":[33435,37033],"class_list":["post-1004199086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-finance","category-industrial","category-midwest","category-latest","tag-goldman-sachs","tag-plymouth-industrial-reit-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Plymouth Industrial Sheds $100M on Chicago-Area Assets - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/plymouth-sheds-100m-on-chicago-area-industrial-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plymouth Industrial Sheds $100M on Chicago-Area Assets\" \/>\n<meta property=\"og:description\" content=\"The 15-property portfolio comprises a total of three million square feet of Class B warehouse space. 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