Stream Realty Partners—a national real estate services, development and investment firm—was awarded the management assignment of two new, Class A industrial properties in suburban Chicago from Principal Real Estate Investors, on behalf of a large institutional client. Stream will oversee the properties and position them to meet the robust Chicago industrial market demand.
The assignment includes a 133,000-square-foot project in Elk Grove Village, Illinois, situated on a 6.5 acres. Completed in December 2018, the property was immediately leased by Seko Worldwide, a logistics firm, and Gran Quartz, a distributor of stone cutting tools. The building features 20 exteriors docks, 32-foot clear ceiling heights, and 53- x 50-foot bays with potential secured truck court.
The other site, a 400,370-square-foot facility in Franklin Park, Illinois, was completed in May 2019 and is currently available for lease. The state-of-the-art facility is located on approximately 20 acres and offers 79 exteriors docks, 36-foot clear ceiling heights, and provides excellent exposure along the I-90 bypass. The project will eventually feature direct access to I-294 via the County Line Road interchange (part of the EOWA project).
“Managing these new properties will provide Stream with the opportunity to build our Chicago-area portfolio with more assets in an ever-growing submarket,” said Victoria Knudson, executive vice president of Stream Chicago. “We look forward to increasing our standing and achieving great results as we move forward with our national clients.”
Nationally, Stream leases and manages more than 193 million square feet of commercial real estate in leading markets such as Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Greater L.A., Houston, San Antonio and Washington, D.C.
