Industrial Outdoor Ventures, a leading investor and manager of industrial outdoor storage (IOS) facilities in the U.S., has expanded its Chicago property portfolio with the acquisition of an IOS asset located at 160 N. Garden Ave. in Roselle, IL. IOV’s Chicago portfolio now consists of seven properties.
The newly acquired property is 5.73 improved acres with a 28,964-square-foot maintenance building and a 1,350-square-foot, stand-alone office. The maintenance building features 13 drive-through service bays and four additional drive-in doors.
“We’re excited to add this asset to our portfolio and expand our reach as a national provider of IOS solutions,” said Anthony DeLaurentis, Acquisitions Officer at Industrial Outdoor Ventures. “Our strong ties to the Chicago market made this a natural fit.”
DeLaurentis noted that upon closing, IOV plans to make select improvements to the property on spec as part of the leasing initiative.
160 N. Garden Ave., in North DuPage County, is located approximately 4 miles from I-290 and approximately 6 miles from I-355. This provides great access to Downtown Chicago and the surrounding Chicago area industrial markets. Additionally, the property is approximately 14 miles from O’Hare International Airport and in close proximity to rail yards.
“Functionality and versatility are key when it comes to investing in IOS assets in any market,” DeLaurentis said. “The Garden Ave. property is well suited to meet the broad spectrum of IOS users, from logistics and trucking firms to equipment rental and repair business to building materials firms.”
With this acquisition, IOV owns seven Chicago area assets totaling 90 acres with approximately 158,500 square feet of buildings for storage, maintenance and complementary uses.
The seller of the property, a private party, was a regional cell tower construction and maintenance company. Matt Garland with Cawley represented the seller in the transaction. Matt Garland and Andrew Maletich with Cawley have been named exclusive leasing agents for the property by IOV.
About Industrial Outdoor Ventures
Industrial Outdoor Ventures (IOV) is the leading national owner of low coverage industrial property, providing supply chain infrastructure solutions to essential industries such as transportation, bulk material distribution, last-mile logistics, heavy equipment, and the utility industry. Founded in 2016, IOV was a first mover in this emerging asset class and makes investments in high barrier to entry markets throughout the United States. The company is focused on the long-term ownership of these mission-critical Industrial properties and currently owns and manages over $970+ Million in assets with a goal of reaching another $350 Million in the next 12 months. For more information, visit www.industrialoutdoor.com.
