{"id":1004202325,"date":"2018-01-04T14:00:41","date_gmt":"2018-01-04T22:00:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202325"},"modified":"2022-12-07T07:30:33","modified_gmt":"2022-12-07T15:30:33","slug":"plymouth-industrial-reit-expands-chicago-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/","title":{"rendered":"Plymouth Industrial REIT Expands Chicago Footprint"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004202333\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202333\" data-attachment-id=\"1004202333\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/440-s-mclean-blvd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\" 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;1&quot;}\" data-image-title=\"440 S. McLean Blvd.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;440 S. McLean Blvd.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg?w=800\" class=\"wp-image-1004202333 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\" alt=\"440 S. McLean Blvd.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202333\" class=\"wp-caption-text\">440 S. McLean Blvd.<\/p><\/div>\n<p>Plymouth Industrial REIT has acquired a light manufacturing building in Elgin, Ill., a northwest suburb of Chicago. The property\u2019s 75,047 square feet have been leased back to Burndy Engineering, a division of Hubbell Corp., which sold the property in a $4.1 million all-cash transaction.<\/p>\n<p>Located at 440 S. McLean Blvd., the property is less than five miles south of Interstate 90, enabling access to Chicago\u2019s O\u2019Hare International Airport 20 miles to the east. The building sits at the edge of an industrial district, home to tenants including XPO Logistics, Haumiller Engineering and Elgiloy Specialty Metals, among others. Elgin Community College is also located a half mile away from the property.<\/p>\n<p><em>\u201cWe continue to grow and diversify our presence in Chicago in strong submarkets. Burndy has a long and successful history at 440 McLean Blvd.,\u201d<\/em> said Pendleton White Jr., president &amp; chief investment officer of Plymouth, in a prepared statement. <em>\u201cSituated in an infill market and a much-preferred location for tenants with one of the best manufacturing labor forces in the greater Chicago area, this building is a great fit for our strategic expansion in Chicago.\u201d<\/em><\/p>\n<p>This acquisition brings Plymouth\u2019s holdings in the Chicago area to 22 buildings totaling approximately 3.7 million square feet. In December, the company paid almost $100 million to acquire a 15-property <a href=\"https:\/\/www.commercialsearch.com\/news\/plymouth-sheds-100m-on-chicago-area-industrial-assets\/\">industrial portfolio<\/a> from Goldman Sachs.<\/p>\n<p><em>Images courtesy of Plymouth Industrial REIT<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition of a fully leased industrial property brings the company\u2019s holdings to 22 buildings in the greater Chicago area.<\/p>\n","protected":false},"author":861,"featured_media":1004202333,"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":[38745,37033,36315],"class_list":["post-1004202325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-pendleton-white-jr","tag-plymouth-industrial-reit-inc","tag-sale-leaseback"],"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 REIT Expands Chicago Footprint - 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-industrial-reit-expands-chicago-footprint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plymouth Industrial REIT Expands Chicago Footprint\" \/>\n<meta property=\"og:description\" content=\"The acquisition of a fully leased industrial property brings the company\u2019s holdings to 22 buildings in the greater Chicago area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-04T22:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T15:30:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/\",\"name\":\"Plymouth Industrial REIT Expands Chicago Footprint - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\",\"datePublished\":\"2018-01-04T22:00:41+00:00\",\"dateModified\":\"2022-12-07T15:30:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-reit-expands-chicago-footprint\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/440-S.-McLean-Blvd..jpg\",\"width\":800,\"height\":620,\"caption\":\"440 S. 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