October 11, 2017 Comments Off on Westmount Acquires 21-Asset, 2.35M Chicago-Area Portfolio Views: 560 Illinois, Midwest, National News

Westmount Acquires 21-Asset, 2.35M Chicago-Area Portfolio

Dallas-based Westmount Realty Capital acquired a 21-building, 2.35 million-square-foot industrial portfolio in the greater Chicago area for an undisclosed amount. Of the portfolio, 16 of the properties are located in close proximity to Chicago’s O’Hare International Airport and the Illinois International Port District, and the other five are situated north of Chicago from Lake County, IL to Kenosha, WI, just south of Milwaukee.

Westmount’s Clifford Booth says, “This portfolio is located throughout nine of Chicago’s 20 industrial submarkets, and provides Westmount with the opportunity to increase its footprint in one of the most influential industrial, financial and cultural markets in the country.”

More than half of the 82% occupied buildings were once owned by user/occupiers, allowing for additional value-creation opportunities. The acquisition brings Westmount’s Chicago area assets to more than five million square feet of industrial space.

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