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Saudi Investor Adds FedEx Ground Warehouse

Saudi Arabia-based SEDCO Capital recently acquired a FedEx Ground-leased distribution facility in the Chicago suburb of Niles, IL for an undisclosed sum. The 306,448-square-foot facility at 5959 W. Howard St. was purchased via a separate account managed by ElmTree Funds.

“We are very pleased with the outcome of this transaction, and are excited about the long-term prospects for this asset,” said Sherif Selim, managing director at SEDCO. “We like northeast Cook County, one of the most stable and established logistics submarkets in the Chicago area with excellent connectivity to Chicago CBD and the airport.”

The facility was constructed in 2015 as a build-to-suit for FedEx Ground. “The high quality nature of this asset, together with its ideal location and remaining lease term with a blue-chip tenant, made it a very attractive investment opportunity,” said Jim Koman, CEO of ElmTree Funds.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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