Westmount Realty Capital has sold Elk Grove Village, a portfolio of 21 light industrial buildings spanning 757,557 square feet, located in the O’Hare submarket, which houses the most mature concentration of industrial assets in the Chicago industrial market. Westmount has owned the portfolio for three years.
Elk Grove Village sits on 47 acres and is located immediately adjacent to the northwest side of O’Hare International Airport. The O’Hare submarket is known as ground zero for the Chicago industrial market, based on its location as well as its abundant supply of industrial space.
“The multitenant properties within this portfolio are difficult and expensive for industrial developers to replicate, especially in a market like Chicago,” said Brian Scruggs, Westmount’s managing director of industrial acquisitions. “The portfolio’s strong tenant profile and continuous high occupancy rate have made this portfolio a strong investment for our firm.”
