JV Signs Mainfreight to Build-to-Suit Industrial Lease
Chicago-based Timber Hill Group, in a joint venture with Champion Realty Advisors, has signed Mainfreight to a long-term, build-to-suit lease for a 57,100-square-foot freight terminal on a 15.78-acre site located at 27W364 North Avenue in Carol Stream, Illinois.
Mainfreight is a New Zealand logistics company providing freight solutions, including warehousing, domestic distribution and international services. TH LLC, a special purpose entity managed by Timber Hill and Champion, acquired the site in May 2023. Together, Timber Hill Group and Champion Realty Advisors develop, own, and operate managed truck parking lots and other logistics-related real estate throughout the United States.
Mainfreight’s new terminal will feature 81 dock doors, parking for 92 cars, 88 trailers and 44 tractor stalls. It will also have a 20,000-square-foot, two-story office space that will serve as the company’s North American headquarters. This is the first of two terminal builds Timber Hill and Champion are developing on behalf of Mainfreight.
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.