Colliers International | Chicago’s Jeff Devine and Steve Disse represented a joint venture between Ryan Companies and Allstate Investments in the sale of 10500 Woodlawn Avenue in Chicago’s Pullman neighborhood.
The recently completed facility is fully leased to a large e-commerce company. The Colliers team sold the property to a privately held foreign investor for an undisclosed price.
The 144,207-square-foot, Class A logistics center is located on 38.3 acres and is designed to handle last mile logistics for the tenant. It features an attractive office build out and 36-foot clear ceiling height in the warehouse area. In addition, the site provides paved parking for 347 cars and 856 vans. The property is easily accessible by public transportation and provides immediate access to Interstate 94 via a four-way interchange at 111th Street.
The Pullman facility was a built-to-suit for the Fortune 100 e-retailer and was completed in September 2020. It represents the company’s proprietary model to execute the final leg of its e-commerce distribution process, serving customers within a 45-minute radius of the facility.
“This was a great opportunity for an investor to purchase a state-of-the-art logistics facility with immediate access to Interstate 94,” said Devine, a principal with Colliers Chicago. “Not only is the tenant highly stable, but the Pullman area continues to gain considerable attention for business and community development initiatives.”