Chicago & Midwest + Greater Chicagoland + Industrial | April 28, 2021

Transwestern Investment Group Sells 2M-SF Michelin Build-to-Suit

Transwestern Investment Group (TIG) has sold the Michelin Super Regional Distribution Center in Wilmington, IL to Silver Creek Development. A build-to-suit for Michelin, the two-million-square-foot project sits within Elion Logistics Park 55, a 2,500-acre rail-served industrial park in Will County.

“TIG acquired this investment due to its strategic location and the durable income that is generated from the Michelin lease,” said Chris Sterling, VP at TIG. “During TIG’s ownership, Michelin expanded by more than 300,000 square feet and extended its lease term, further validating its commitment to this project. Having achieved our client’s investment objectives, we elected to have Eastdil market this asset for disposition.”

The project’s location, coupled with a long-term lease to Michelin, generated strong interest from the investment community for the asset. Ultimately, TIG selected Silver Creek as the buyer.

Nick Murphy and Josh McArtor of Eastdil Secured represented TIG in the sale.

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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 13-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 15-20 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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