Dayton Street Partners LLC has refinanced the 105,000-square-foot distribution center at 815 W. Pershing Road in Chicago.
Over the past three months, Dayton Street executed three long-term leases, occupying roughly 80 percent of the building. A subset of the federal government signed a lease for approximately 25,000 square feet; 2020 Exhibits executed a lease for approximately 36,000 square feet; and Goodman Distribution Inc. leased approximately 19,000 square feet.
The Halsted Pershing Business Center is located in The Stockyards Industrial Corridor on the southwest corner of Halsted and Pershing streets. Situated just south of where I-94 and I-55 connect, the building provides highway access and is just minutes Chicago’s Central Business District.
Dayton Street Partners’ Howard Wedren, the developer of Halsted Pershing Business Center, secured a loan from Union National Bank of Elgin, the same lender who financed the $9 million project three years ago. The project had been the only speculative development in Chicago in the last four years. Legacy Capital Partners LLC, a Lyndhurst, Ohio-based investment firm, remains Dayton Street’s investment partner.
Steve Livaditas of CBRE represented ownership in each transaction. Tyler Hardy of Grubb and Ellis represented 2020 Exhibits and Brant Landry, Mitchel Rothstein and Randy Koch of Transwestern Commercial Real Estate provided tenant representation for Goodman Distribution.
