IllinoisIndustrial SEDCO Capital purchases FedEx distribution center in Niles June 19, 2019 Share on Facebook Share on Twitter Share on LinkedIn Share via email SEDCO Capital, a Saudi Arabian Asset Manager, has purchased a FedEx Ground-leased distribution facility in Niles, Illinois, a northern suburb of Chicago. The property was purchased via a separate account managed by ElmTree Funds, LLC, a real estate private equity firm based in St. Louis. “We are very pleased with the outcome of this transaction and are excited about the long-term prospects for this asset,” said Sherif Selim, managing director at SEDCO. “We like the Northeast Cook County, one of the most stable and established logistics submarkets in the Chicago area with excellent connectivity to Chicago CBD and the airport.” The 306,448-square-foot facility is located at 5959 West Howard Street. Originally constructed in 2015 as a build-to-suit for FedEx Ground, the net-leased property supports distribution in the surrounding markets and features 101 dock high doors on a 39-acre site. “The high-quality nature of this asset, together with its ideal location and remaining lease term with a blue chip tenant, made it a very attractive investment opportunity,” said Jim Koman, CEO of ElmTree Funds. The property, which has approximately 11 years remaining on its lease with FedEx, is expected to perform well over the long term due to strong market fundamentals as well as its ideal location within the Chicago MSA.