Missner Group & Greystar-Thackeray Acquire 58K SF Illinois Industrial Building

The Missner Group, in collaboration with Greystar-Thackeray, has recently acquired a 58,174-square-foot multi-tenant industrial property located in Wheeling, Illinois. The building, situated at 1-5 Messner Drive, is strategically positioned near Interstate 294 and Willow Road. It is fully occupied and boasts features such as a 16-foot clear height, five interior docks, three drive-in doors, and ample parking.

Value-Add Acquisitions Program

Tina Ramos, Chief Investment Officer at The Missner Group, expressed excitement about initiating their value-add acquisitions program in partnership with Greystar-Thackeray through the purchase of 1-5 Messner. Brendan Green and Anne Dempsey from Colliers facilitated the sale on behalf of the seller, securing the deal with The Missner Group and Greystar-Thackeray.

Strategic Investment Approach

Ramos highlighted the transaction's significance as a partial sale-leaseback with potential for mark-to-market upside, reflecting the focus of TMG and Greystar-Thackeray in future endeavors. She emphasized the utilization of Greystar-Thackeray’s agile capital deployment strategy combined with TMG’s expertise in operating infill, small bay, value-added industrial properties to generate value for their partners.