Transwestern Investment Group (TIG) has sold the Michelin Super Regional Distribution Center in Wilmington, Ill., to Silver Creek Development. Terms of the deal were not disclosed.
A build-to-suit for Michelin, the 2 million-square-foot project sits within Elion Logistics Park 55, a 2,500-acre rail-served industrial park located at the intersection of Interstate 55 and Lorenzo Road in Will County.
Elion Logistics Park 55’s strategic location outside of Chicago provides access to 30 percent of the total U.S. population within a one-day drive. Additionally, it is near both BNSF Logistics Park Chicago and Union Pacific intermodal facilities in Elwood and Joliet, Ill., respectively.
“TIG acquired this investment due to its strategic location and the durable income that is generated from the Michelin lease,” said Chris Sterling, vice president at TIG. “During TIG’s ownership, Michelin expanded by more than 300,000 square feet and extended its lease term,
