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GID Acquires Bolingbrook Industrial Property in I-55 Corridor
GID, a real estate owner and fiduciary that invests in multiple asset classes, has acquired 3-9 Timber Court in Chicago, Illinois.
Conveniently located in the I-55 Corridor, 3-9 Timber Court is a 320,700 square foot property that is currently 100% leased to three tenants with a 2.1-year Weighted Average Lease Term (WALT) remaining with in-place rents that are 35% below current market rents. With immediate access to I-55 and I-355, the Class A facility provides direct access to the entire Chicago metropolitan area.
“We continue to execute our strategy of constructing a high quality, infill, multi-tenant portfolio in top markets with varying demand drivers and strong prospects for growth,” says Michael Wenaas, Co-head and Chief Investment Officer, GID Industrial.
