MAT Limited Partnership and J.P. Morgan’s Marina Crossings is more than 50% leased within 60 days of completion of the site
CHICAGO, January 10, 2019 – Cushman & Wakefield represented landlord Marina Crossings Owner, LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management, in securing its first tenant at 2075 W. 43rd Street, a premier infill industrial development. It is the City of Chicago’s largest speculative industrial building since 1905. First Logistics, an Illinois-based 3PL, will expand from their current facility in Alsip, IL to immediately occupy 331,059 square feet (SF) of the 633,057 SF facility.
Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire represented the landlord in lease negotiations. Larry Hanley of Midwest Commercial Real Estate represented the tenant.
Larry Goldwasser, Managing Director, Cushman & Wakefield: “Marina Crossings is an attractive option for tenants looking for immediate proximity to a tremendous labor force and state-of-the-art industrial amenities including 32-foot ceilings, cross docking, precast construction and ample car and trailer parking. The 35-acre property is rail served and is just off the I-55 Stevenson Expressway, the area’s strongest-performing industrial submarket.
“First Logistics chose the location based on its ability to service their contract with the local plant of a global manufacturer. Marina Crossings provides tenants with an ideal real estate solution based on its access to Chicago’s labor pool and vast population of customers. We look forward to bringing the building to full occupancy in 2019.”
The Marina Crossings development was completed in Q4 2018 and is 633,057 SF in total size.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $135 billion in assets under management and over 800 professionals (as of September 30, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information: www.jpmorganassetmanagement.com.