Portfolio Consists of Eight Assets Totaling more than 300,000 Square Feet
Stream Realty Partners (Stream) – a national real estate development, services and investment firm, announces the management assignment of eight industrial properties in suburban Chicago from Agellan Commercial Real Estate Investment Trust (the REIT).
Stream will oversee the properties, which include approximately 314,000 square feet of gross leasable area, and position them to meet the robust Chicago industrial market demand, and increase Stream’s overall presence in the area.
“Managing these new properties will provide Stream with the opportunity to build our portfolio with more assets in an ever-growing segment,” said Victoria Knudson, executive vice president of Stream Chicago. “We look forward to increasing our standing and achieving great results moving forward.”
Agata Szlezak, senior property manager, and Eric Arima, assistant property manager will oversee these new properties, along with Knudson who is responsible for the division’s management of the Agellan Commercial Real Estate Investment Trust (the REIT) assets, as well as those of Cabot Properties, which selected Stream as the exclusive management team of its 5.6 million-square-foot industrial portfolio in the area. In total, Stream has nearly 7 million square feet of property in greater Chicago.
The Chicago industrial market continues to show strong signs of growth through expansion of the region’s traditional boundaries and redevelopment of land-locked areas. The O’Hare submarket remains one of the tightest in Chicago’s industrial market with 103 million square feet of product.