Industrial N Illinois

Barings Real Estate selects JLL to lease, manage Chicago industrial portfolio

Barings Real Estate selects JLL to lease, manage Chicago industrial portfol,ph01
Brewster Creek Business Park in Bartlett, Illinois.

JLL has been selected by Barings Real Estate, part of diversified real estate investment manager Barings LLC, to lease and manage its Chicago industrial properties at Bloomingdale Corporate Center and Brewster Creek Business Park. JLL’s Dominic Carbonari, Frank Griffin and Sam Durkin will handle leasing and marketing efforts on behalf of Barings. Ben Bischmann, Tim Meier and Cathy Zuppa will be responsible for the property management.

“We are looking forward to working with JLL on Barings’ Chicago industrial portfolio and believe that their team will add value for our clients,” said Pam Boneham, central region managing director for the real estate equity group at Barings.

Bloomingdale Corporate Center is a 20-acre, 276,250-square-foot industrial park with three distribution facilities located at the intersection of Army Trail Road and Gary Avenue in Bloomingdale, Illinois. Brewster Creek Business Park, located in Bartlett, Illinois, is a 670-acre, mixed-use business park where Barings owns 457,000 square feet of space between its two buildings on behalf of institutional investors.

“We couldn’t be more excited to partner with Barings on Bloomingdale Corporate Center and Brewster Creek Business Park, both of which are home to state-of-the-art construction and modern facilities,” said Carbonari. “With strong market fundamentals in both North Kane and North DuPage submarkets, these buildings are well situated to attract a myriad of industrial users.”

Built in 2016, Bloomingdale Corporate Center is comprised of three buildings that have 51,600, 70,650 and 154,000 square feet of space. Each building features substantial loading docks, concrete truck courts, 30-foot clear ceilings, Ductilcrete floors, T-5 Lighting as well as ESFR sprinkler systems. Earlier this year Reliable Automatic Sprinkler moved into the park and leased 50,000 square feet of space while Service Spring signed a 20,000-square-foot lease for their new Midwest operations.

Formerly a gravel quarry and redeveloped in 1999, Brewster Creek Business Park is today home to 39 properties and 90 companies. Barings industrial portfolio consists of two buildings in the business park. The first building was built in 2016 and is a 271,200-square-foot, cross-docked warehouse building that is currently 100 percent leased to two tenants. The second building was completed in 2018, and is an 186,000-square-foot, rear-load warehouse building that is currently 58 percent leased to one tenant. Each building features 32-foot clear ceilings, substantial loading docks, concrete truck courts and ESFR sprinkler systems.

“We are pleased to partner with Barings to provide property management services at these premier assets, where we will apply the industrial management expertise of our local team to ensure these properties operate at the highest level,” Bischmann said.