Los Angeles / Frankfurt am Main, August 2 2017
CBRE Global Investors and Universal-Investment Acquire Chicago-Area State-of-the-Art Distribution/Warehouse Facility for BVK Account Gateway 57 is located at Central Avenue in University Park, Illinois, within the South Suburban Submarket, which is home to several large distribution/warehouse users. This is the newest delivery into University Park and includes key building specifications demanded by users of bulk warehouse/distribution space today. The property is fully cross-docked and features 102 exterior dock doors, two drive-in doors, 200 trailer spaces, ESFR sprinklers and precast insulated concrete panels. With a 36-foot clear height, Gateway 57 is the only building in University Park with a clear height above 32 feet. This provides a distinct competitive advantage in attracting tenants who need a taller clear height for large racking systems, such as e-commerce retailers.
“Given the region’s expansive transportation infrastructure and central location, Chicago continues to be a premiere intermodal hub and a centerpiece of the U.S. freight transportation network,” said Stuart Sziklas, Managing Director for CBRE Global Investors-Americas. “University Park benefits from excellent transportation via I-57 and I-80 and access to a good labor force, and the physical attributes of Gateway 57 position it very competitively within the peer group.”
“BVK continues to be attracted to investment in North America as part of their geographical diversification strategy,” said Alexander Tannenbaum, Managing Director at Universal-Investment in charge of the Real Estate division. “With industrial demand in this submarket bolstered by the expansion of e-commerce and the growing investment in the logistics space among traditional retailers and distributors, Gateway 57 is a strategic addition for the BVK mandate.”
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of € 4.4 billion and € 3.2 billion pension payments annually. It currently has € 69 billion assets under management and more than 1,200 employees.
Visit www.versorgungskammer.de for more information.
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com .
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.