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Faropoint Makes First Acquisition within Chicago City Limits
Faropoint acquired a 46,000-square-foot industrial facility at 250 Washtenaw Ave. in the Kinzie Industrial Corridor for an undisclosed sum. Sean Austin with Lee & Associates represented both buyer and seller.
“250 Washtenaw is Faropoint’s first acquisition within the City of Chicago and a clear representation of our desire to be in close proximity to population,” said Jordan Kovalsky, who leads Faropoint’s Midwest operations. “We are confident that the market fundamentals within the city limits will continue to improve as individuals look to receive deliveries in shorter periods of time.”
Austin added, “Faropoint’s acquisition of the Washtenaw site is yet another example of institutional capital targeting infill industrial assets located within the Kinzie Industrial Corridor, offering accessibility and quality of labor to both the West Loop and Chicago’s Central Business District.”
A single-tenant building, 250 Washtenaw was constructed in 1925. It offers two dock-high doors and freezer/cooler build-out.
- ◦Sale/Acquisition
