Sale produced an excellent total return for the investors on a shortened hold horizon.
April 04, 2019
Dallas – Transwestern Investment Group (TIG®) today announces it has sold a 108,554-square-foot industrial portfolio on behalf of the Diversified International Partners Fund. Boston-based High Street Realty Co. acquired the two logistics facilities in Lake County, Illinois, for an undisclosed price.
“This sale represents TIG’s strategy to acquire high-quality, institutional assets in prime locations,” said Richard Yeh, Managing Director at TIG. “The opportunistic sale produced an excellent total return for the investors on a shortened hold horizon.”
The portfolio included a 60,025-square-foot manufacturing facility at 927 N. Shore Drive in Lake Bluff and a 48,529-square-foot warehouse at 1940 USG Drive in Libertyville. Both properties are fully occupied.
Lake County is a premier business market in the Chicago area, boasting a 4.8 percent vacancy rate at year-end 2018. According to Transwestern’s research on the Chicago industrial market, the Lake County submarket saw 773,101 square feet of positive absorption in fourth quarter 2018, bring the yearly total to nearly 1.3 million square feet.
Lake County compares well with the national industrial market, which continues to outperform in response to unprecedented demand. While nearly 1 billion square feet of new inventory has delivered in the past three years, the year-end vacancy rate was 4.7 percent, less than half of the post-recession high of 9.5 percent in 2010, according to Transwestern’s research on the national industrial market. Of the 47 markets Transwestern tracks, more than 90 percent experienced year-over-year rent growth, and all but four markets posted positive net absorption for the year.
Michael Caprile, Ryan Bain and Zachary Graham of CBRE provided disposition services.
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.