Investor confidence in industrial market continues

Chicago, IL – Avison Young has arranged the sale of a 35,000-square-foot (sf) distribution facility at 1121 Northpoint Boulevard in Chicago’s North Shore on behalf of Xebec Realty. The property sold for $4.3 million and is an original build-to-suit and is fully leased to FedEx, who has occupied the space since 1994.

Erik Foster and Michael Wilson, both Principals located within Avison Young’s Chicago office represented the seller, Xebec Realty Partners. 

“This is a well-located facility with a name brand great credit user in place in FedEx.  It functions as a last mile type facility with easy access to a large population pool in Chicago’s northern Suburbs.  Facilities like this in a market like Chicago remain in high demand and investment from both the investor market and FedEx show continued confidence in the market.”

“E-commerce continues to be driven by customers who demand same-day or near immediate delivery options, and last-mile facilities like 1121 Northpoint Boulevard have become a requirement near urban cores,” said Foster. 

The property is located within the Northpoint Business Park in Waukegan, IL and offers access to 1-94 and the major thoroughfares of Skokie Highway, Waukegan Road, and Route 120. The modern construction and attractive demographics of Chicago’s North Shore suburbs make it an ideal long-term location for occupiers like FedEx.