Elion Partners has acquired its second last-mile industrial distribution asset in infill Chicago, continuing its portfolio aggregation investment strategy, the firm announced today. The two assets total 122,484 square feet and are located in the Central DuPage submarket, one of the submarkets with the lowest vacancy rates next to O’Hare according to CBRE.
On January 30, 2020, Elion closed on 60,984 square feet, located at 111 International Drive in Glendale Heights, Illinois, and 61,500 square feet, located at 375 Village Drive in Carol Stream, Illinois, in August 2019.
Both single industrial distribution assets feature interior docks and 24’ to 30’ clear height with direct access to Interstate 355.
Shlomo Khoudari, Managing Partner of Elion Partners, said: “The supply constrained nature of this submarket coupled with its proximity to consumers fits our investment strategy, and is the second in a lineup of assets we have under contract. We are looking to continue portfolio aggregation in the region.”
Focused on last- and middle-mile industrial distribution assets, the firm is sourcing opportunities in core markets with strong consumer ordering habits.
Michael Yocco, Managing Director of Industrial Investments at Elion Partners, said: “Online consumer spending continues to accelerate in Chicago so demand for more last-mile locations remains strong. We are continuing to source deals in this market.”
Elion has a large industrial footprint in the Chicago area, also developing a 30+ million square foot industrial logistics park 40 miles southwest of Chicago in Wilmington, Illinois, known as Elion Logistics Park 55.