JLL Capital Markets closed the sale of a 314,028-square-foot FedEx Ground distribution facility at 5959 W. Howard St. in Niles, Illinois.
JLL represented the seller in the transaction. Centaur Capital Partners and Talos Capital acquired the asset.
The single-tenant industrial facility sits on 37.4 acres in the heart of Cook County’s supply-constrained North Cook County industrial submarket. Constructed in 2015 as a build-to-suit for FedEx Ground Package Systems Inc., the modern distribution center features 32-foot clear heights, 101 dock doors, six drive-in doors and a fully automated material handling system with six-dimensional package scanning and sorting capabilities.
The property includes 291,511 square feet of warehouse space, 14,937 square feet of office space, a 5,180-square-foot maintenance facility and a 2,400-square-foot guard building. The facility provides 562 car parking spaces and 546 trailer parking spaces across the site, along with an on-site fueling station to support FedEx’s 24-hour operations.
A key component of the offering includes an additional 11.2 acres of supplemental land that FedEx currently utilizes for trailer and auto parking. This coveted infill land site contributes to the mission-critical nature of the location for FedEx while providing investors with potential future redevelopment opportunities in one of Chicago’s most supply-constrained industrial markets.
FedEx Ground Package Systems Inc., a wholly owned subsidiary of investment-grade rated FedEx Corporation (NYSE: FDX; S&P: BBB; Moody’s: Baa2), has operated from the facility since June 2015.
The property’s strategic location provides immediate access to Interstate 94, which runs one mile to the east, and sits eight miles from O’Hare International Airport. This proximity positions the facility as a critical component of FedEx Ground’s Midwest distribution network, connecting the company to Chicago’s dense labor pools and providing connectivity throughout the greater Midwest region.
The JLL Investment Sales and Advisory team was led by Managing Director Kurt Sarbaugh, Senior Managing Director Sean Devaney and Senior Managing Director John Huguenard.
