Industrial N Illinois

CBRE, German investor acquire 1MSQFT facility leased to Georgia Pacific

  

CBRE Global Investors and German investment company, Universal-Investment, have acquired a newly completed 1-million-square-foot build-to-suit distribution and warehouse facility in Gateway 57 Corporate Park in University Park, Illinois.

The acquisition was made for the account of an investment fund established for Bayerische Versorgungskammer (BVK), one of Germany’s largest institutional investors. The property is fully leased to Georgia Pacific.

Gateway 57 is located at Central Avenue in University Park, Illinois. The property has key features in demand for tenants in logistics and e-commerce. The building is fully cross-docked and features 102 exterior dock doors, two drive-in doors, 200 trailer spaces, ESFR sprinklers and precast insulated panels. The 36-foot clear height makes the property the only building in University Park with a height above 32 feet.