Press Releases

January 27, 2020


Chicago – Transwestern Development Co. (TDC®) today announces it has sold a 178,516-square-foot industrial property on behalf of TDC Franklin Park Partners I LLC, a partnership with one of Transwestern Investment Group’s (TIG®) accounts. The building, which is located at 9100 Belmont Ave. in Franklin Park, Illinois, was acquired by a global real estate investment manager.

“We saw an opportunity to capitalize on the continued robust demand for quality, modern infill distribution space,” said Kevin Mohoney, Vice President at TDC. “This property presented a compelling opportunity to acquire a newly constructed, state-of-the-art facility in Chicago’s top performing submarket, and we’re thrilled that our successful exit has delivered a significant return for our equity partner.”

The sale marks the culmination of TDC’s successful assemblage of three off-market sites in 2018 that created a compelling 10.5-acre infill redevelopment site in the O’Hare submarket. With the shell completed in December 2018, the building features a 32-foot clear height, low Cook County 6b taxes and premier visibility at the corner of Belmont Avenue and River Road. Further, with its location immediately southeast of O’Hare International Airport, the building provides access to a deep and talented labor pool and outstanding proximity to both local and regional transit.

The U.S. industrial market continues to perform well with strong demand coming from both third-party logistics providers and e-commerce tenants. With industrial vacancy rates at historical lows, rents continue to increase and are projected to grow by 5% in 2020. Accordingly, there continues to be strong demand for industrial product from both tenants and investors alike.

TDC’s National Logistics Group develops both speculative and build-to-suit industrial projects, primarily in major distribution markets, with expertise in intermodal logistics, e-commerce, port strategy, sustainability and municipal incentives. TDC remains incredibly active with over 860,000 square feet of modern distribution space currently under construction in the Chicago area, including the following projects:

  • 640 N. Central Ave. in Wood Dale, 159,000-square-foot speculative distribution facility estimated for completion in May 2020
  • 800 N. Route 83 in Wood Dale, a 301,000-square-foot build-to-suit project for Nippon Express USA Inc., which is estimated for completion in December 2020
  • 375 Spitzer Road in Bartlett, a 400,000-square-foot build-to-suit for a Fortune 10 company, which is estimated for completion in January 2021

Founded in 1978, Transwestern has developed office, industrial, multifamily and healthcare projects across the United States. Since 2012, TDC’s pipeline of projects either completed or in process exceeds $5.6 billion in total cost. 

ABOUT TRANSWESTERN DEVELOPMENT CO.

Transwestern Development Co. (TDC®) is a diversified business with expertise in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. TDC operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. Part of the integrated Transwestern enterprise, the firm capitalizes on the market insight and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. For more information, visit transwesterndevelopment.com.

ABOUT TRANSWESTERN INVESTMENT GROUP

Transwestern Investment Group (TIG®) is an investment adviser serving a broad range of clients through a diversified array of discretionary and non-discretionary investment vehicles. With $4.5 billion of assets under management as of year-end 2018, our client-focused, relationship-driven approach is built upon trust, integrity and transparency. TIG provides tactical investment management with an integrated operating platform through the Transwestern enterprise, which includes a diversified real estate services firm with 34 U.S. offices and a prominent commercial development company. For more information, visit transwesterninvest.com.

This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.

The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.

Media Contact:

Stefanie Lewis
713.272.1266
stefanie.lewis@transwestern.com
twmediarelations@transwestern.com

Kevin Mohoney

Vice President

Chicago, Illinois

(312) 257-2876