Map pin2055 Army Trail Rd, Addison, IL, 60101-1478, US

Centerwest Business Park

Centerwest Business Park _Property for Sale

Attributes

Building area gross
116,224 sf
Land area gross
9.03 acres
Occupancy
81%
WAULT
5.1 years

Asset Description

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Centerwest Business Park, a 116,627 square foot flex industrial facility located in Addison, IL (Chicago MSA). The Property is 80.8% leased to twelve (12) distinct tenants, offering an annually growing in-place cash flow with the opportunity to immediately enhance yields through vacancy lease-up. With a weighted average tenant tenure of 9.3 years, the Property’s in-place rent roll features a diverse, committed tenant base muting industry-specific and lease-up risks. Centerwest Business Park provides investors an opportunity to acquire an extremely well-located, flex industrial Asset with established, in-place tenancy and significant yield enhancement opportunities through successful leasing.


Positioned directly off of I-355, Centerwest Business Park benefits users through its highly accessible location and exposure to deep, Chicago MSA labor pools. Direct access to I-355 connects the Property to Chicago’s major highway infrastructure, namely I-290, I-90, and I-55, all within a 20-minute drive. This transportation access allows Centerwest Business Park employers to take advantage of a workforce of nearly 723,000 people in a 10-mile radius of the property, 21% of whom are considered blue-collar. Additionally, the Property is located in a top performing industrial submarket in Chicago, North DuPage County, which boasts a 1.6% vacancy rate and less than 300,000 square feet of new product under development - setting the market up well for future industrial rent growth.

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Investment Highlights

  • COMMITTED IN-PLACE TENANCY WITH IMMEDIATE YIELD ENHANCEMENT OPPORTUNITY THROUGH VACANCY LEASE-UP


  • PREMIER CHICAGO SUBMARKET LOCATION WITH HIGH VISIBILITY ALONG I-355


  • FUNCTIONAL, MULTI-TENANT FLEX PRODUCT OFFERED AT A SIGNIFICANT DISCOUNT TO REPLACEMENT COSTS


Centerwest Business Park  4_Property for Sale
Centerwest Business Park  4_Property for Sale
Centerwest Business Park (0 Properties)

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Last updated
3 Jun 2024