REBusinessOnline

Mesa West Capital Provides $32.1M Acquisition Loan for Industrial Property in Lockport, Illinois

The I-355 Center was built in 2017.

LOCKPORT, ILL. — Mesa West Capital has provided a $32.1 million loan for the acquisition of the I-355 Industrial Center in Lockport, 30 miles southwest of Chicago. Built in 2017, the 611,576-square-foot industrial property is situated on 33 acres and comprises two buildings. It features a clear height of 32 feet, 30 dock doors and a shared 185-foot truck court. The property is currently leased to one tenant, Berlin Packaging LLC, which occupies approximately 17 percent of the available space. Steve Roth of CBRE arranged the loan on behalf of the borrower, a joint venture between High Street Realty Co. and Angelo Gordon. A portion of the five-year, floating-rate loan will be used to pay for tenant improvements and lease-up costs.

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