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Canyon Invests with DeBartolo on 879k-SF Monee Warehouse
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Canyon Partners Real Estate has provided a $12-million preferred equity investment to a joint venture with DeBartolo Development and Location Finders International, to finance the ground-up construction of an 879,040-square-foot warehouse within the Bailly Ridge Corporate Center in Monee, IL. This is Canyon’s fourth investment with DeBartolo.
Located on 61.1 acres within Bailly Ridge, the new facility will be able to accommodate multiple tenants by its flexible design. Bailly Ridge’s existing tenant roster includes Amazon, XPO Logistics, and Hancock Tires, all with major distribution facilities within this master-planned community.
Canyon has a long track record of deploying capital in Chicago, as well as industrial projects. Since 2010, Los Angeles-based Canyon has invested over $200 million in the Chicago metro area, facilitating approximately $700 million of investments, and has invested over $200 million in industrial projects nationwide. A May 2019 completion date is anticipated for the Monee facility.
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