Colliers International | Chicago’s Jeff Devine and Steve Disse represented LaSalle Investment Management in the sale of the Samsung I-55 Distribution Center located at 160 Southcreek Parkway in Romeoville, Illinois. The building was sold in the late 3Q 2020 to Exeter Property Group for an undisclosed sum.
The modern, Class A facility is a state-of-the-art, LEED Gold/Energy Star certified (94/100) distribution facility located in Pinnacle Business Center. An ideally designed, cross-docked facility with above-standard truck and car parking, Samsung has occupied the building since 2012 and used it as its primary Chicago-area distribution center for all appliance lines. Samsung had recently renewed its commitment to this high-volume facility with a lease extension.
Pinnacle Business Center is an 800-acre master planned logistics park located just south of the full interchange at I-55 and Weber Road. The park is home to a list of “Who’s Who” of institutional owners and Fortune 500 users including AmerisourceBergen, Pactiv, Carrier, Wilton Industries and FedEx. 160 Southcreek Parkway is one of the few buildings in the area to offer the LEED Gold energy rating along with above-standard trailer parking and expansion capability.
Since 1993, available land and superior highway infrastructure have transformed the I-55 submarket into a strategic destination for high-cube, industrial distribution users. Today it is one of the Chicago area’s deepest and most diverse industrial regions in terms of logistics users.
“This was an excellent opportunity for Exeter to acquire a Class A facility that is a critical supply chain shipping point for one of the world’s most recognizable consumer brands,” said Devine. “Located in the land constrained I-55 industrial submarket this was purchased at a very attractive cost basis. This is a highly defensive investment that is the perfect addition to any core industrial investment strategy.”