Missner Group JV Acquires Illinois Industrial Building

The Missner Group, in a joint venture with Greystar-Thackeray, has acquired a 58,174-square-foot multi-tenant industrial building in Wheeling, Illinois. The property, 1-5 Messner Drive, is a warehouse facility near Interstate 294 and Willow Road. It is fully leased and features a 16-foot clear height, five interior docks, three drive-in doors, and ample parking.

“We are thrilled to be kicking off our value-add acquisitions programmatic venture with Greystar-Thackeray with the purchase of 1-5 Messner,” said Tina Ramos, Chief Investment Officer at The Missner Group. Brendan Green and Anne Dempsey of Colliers represented the seller and brokered the sale to The Missner Group and Greystar-Thackeray.

“This partial sale-leaseback with mark-to-market upside is indicative of what TMG and Greystar-Thackeray will be targeting moving forward,” added Ramos. “This transaction leverages both Greystar-Thackeray’s nimble capital deployment strategy and TMG’s core expertise—operating infill, small bay, value-added industrial product and creating value for its partners.”