Press Release: Standard Real Estate and Trammell Crow Company Sell Industrial Complex in Suburban Chicago
Sale Highlights Strong Demand for New Construction Logistics Facilities in Strategic Locations
Standard Real Estate Investments, LP (Standard), a minority-owned national real estate investment and development firm with offices in Los Angeles and Washington, D.C., and Trammell Crow Company (TCC), a global real estate developer, have closed on the sale of the Woodridge Industrial Center in Woodridge, IL. Standard made an equity investment through its $150 million-investment vehicle last year and construction was completed in July 2024. This is the first sale in the investment vehicle.
Located at 8110 Lemont Rd., the 217,000-square-foot facility is located on a 17-acre parcel in the Village of Woodridge, IL. The new development is two miles north of the I-55 / I-355 interchange and includes sought-after attributes including 22 dock doors with 130-foot truck courts, a single-load, 291-foot deep building and 270 parking spaces.
“The location offers efficient access to more than 4 million people within a 20-mile radius and is one of the most attractive industrial submarkets in Chicagoland,” said Josh Udelhofen, Senior Vice President with TCC Chicago. “The record-setting rent growth and growing demand for modern Class A industrial space made the project appealing to investors seeking in-fill core assets.”
“It’s exciting to see this investment come full circle,” said Robert Jue, CEO of Standard. “The market for well-located, new warehouse distribution facilities remains strong. Thank you to the entire TCC development team for delivering an excellent project.”
Harris Architects was the architect of record, FCL was the general contractor and SpaceCo served as the civil engineer on the Woodridge Industrial Center.
Recently, Standard invested in industrial projects including the Apopka Business Center in partnership with TCC; Veterans Memorial Business Park, a 463,000-square-foot speculative, Class A industrial park in Houston, TX in partnership with IDV; and a 180,000-square-foot industrial project in Reno in partnership with Mohr Capital. In addition to these projects, Standard is targeting transactions with a preference for shovel-ready warehouse/logistics properties of approximately 150,000-500,000 SF in major logistics markets nationwide.
Standard is a national allocator of development capital, operated by a leadership team that previously invested in over $8 billion of assets. The company also has a direct operating platform focused on workforce housing nationwide.