(Video by Elion Partners – double click to expand)
Aventura, Florida-based Elion Partners has reportedly acquired a 1,100-acre distribution park in southwest Chicago for a hefty price of $55 million.
Elion purchased the land at RidgePort Logistics Center in Wilmington, Illinois, from a venture of Ridge Development and PGIM Real Estate, the firm formally known as Prudential Real Estate Investors.
Crain’s reported that Elion plans to house logistics companies at the site, as well as develop large fulfillment centers there, too, since acquisition allows them to develop up to 12 million square feet of new space.
Shlomo Khoudari, managing principal at the company, told Crain’s that RidgePort’s location near interstates and link to the 16 million-square-foot BNSF rail line stretching all the way to Los Angeles will help in attracting tenants.
Jones Lang LaSalle Managing Director, Keith Stauber, is working on the leasing for Elion.
