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.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.