Timber Hill Group, a Chicago-based private equity firm specializing in the acquisition and development of logistics-related industrial real estate, has signed Hub Group Trucking to a 10-year, full-facility lease at its 8.8-acre property located at 4901 S. Monitor Avenue in Forest View, Illinois.
“We are seeing strong demand from logistics-centric customers for these types of properties,” said Cary Goldman, managing partner of Timber Hill. “And this property in particular sits in a critical location for transportation companies.”
The site is zoned I-3 Intensive Industrial and allows five-high container stacking and parking for up to 300 trailers. Located in unincorporated Cook County, the site is proximate to the new, full interchange at I-55 and Central Avenue and offers multiple entrances and exits via Central and Monitor Avenues. In addition, the site is adjacent to a new FedEx freight development and strategically located near three intermodal lines: BNSF, CSX and Norfolk Southern.
Hub Group Trucking, the $4 billion, publicly traded intermodal trucking subsidiary of Oak Brook-based Hub Group, is a leading provider of intermodal, truck brokerage and logistics services throughout North America. The property will serve as fleet and equipment storage for the company.
Timothy McCahill and Brian Vanosky of Lee & Associates represented Timber Hill in the deal.