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Prologis Acquires West Loop Warehouse for $12M
Peppercorn Capital, a Chicago-based commercial real estate development company uniquely focused on the West Loop/Fulton Market neighborhood since 2000, has sold 455 N. Ashland Ave. to Prologis for $12 million.
“Given the enthusiasm surrounding last‐mile distribution, the pandemic did not impair our ability to find an interested buyer,” said Phil Denny, owner and CEO of Peppercorn.
455 N. Ashland Ave. is a 70,000-square-foot single‐story, precast concrete warehouse originally built by Pony Clamp/Jorgensen Clamp Company. It offers convenient access to I-90 and I-294.
Denny purchased the asset in 2017 and has since enjoyed a steady demand from movie production companies, production equipment companies and a few large experiential events such as 29 Rooms.
Added Denny, “Surprisingly, activity has been relatively good during the pandemic. I’m looking forward to executing my acquisition plan in the coming months and years.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
