To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionEverWest sells Chicago-area industrial portfolio
EverWest Real Estate Investors has sold an eight-building industrial portfolio in Elk Grove Village, Ill. The disposition capitalizes on high market demand and creates liquidity for EverWest to pursue new investment opportunities in a shifting market.
The financial terms were not disclosed; however, the buyer is a joint venture between Investcorp and Brennan Investment Group.
The Elk Grove Village portfolio totals 955,460 square feet across eight buildings and represents a varying product type spanning flex, light industrial and bulk distribution space. It sits 20 miles northwest of Chicago, within the Golden Corridor and Chicago O’Hare International Airport submarket.
EverWest assumed investment management of the Elk Grove Village portfolio in 2017, on behalf of an institutional separate account with a Fortune 500 company.
“This disposition allows us to pursue new industrial opportunities across the United States,” said Chris Winn, EverWest direct
