Investment news

Partners Group, the global private markets manager, has invested in a 210’230 square foot flex-office/industrial property in the I-88 West submarket of greater Chicago, Illinois on behalf of its clients. The property’s net rentable area is split between a 91’430 square foot warehouse building and a 118’800 square foot multi-story office building.

Built in 1996, the property provides both office and industrial uses and includes additional features such as industrial grade electrical feeds, dual grade fiber optics and the ability to access dual power grids for continuous electrical supply. The property is currently 100% leased to a publicly traded telecom equipment company and houses their corporate headquarters, testing-engineering functions and a packaging and regional distribution operation.

Eliza Bailey, Head Private Real Estate Debt at Partners Group, comments "We are very pleased to have completed this investment for our clients. According to our current relative value assessment, we overweight investments in properties in robust tier 2 cities that stand to benefit from active management initiatives. With five years remaining on the existing lease and strong in-place cash-flow, our value-add strategy includes the active management of this property as well as its re-tenanting following the expiration of the lease."