Kingsbarn Realty Capital Purchases Logistics Company Headquarters in Chicago MSA
CHICAGO, September 28, 2023 (Newswire.com) - Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of GoldCoast Logistics’ headquarters located at 1425 Madeline Lane, Elgin, Illinois. The GoldCoast Logistics building was a build-to-suit for the firm that was completed in 2022. GoldCoast Logistics has entered into a 20-year, triple net lease with Kingsbarn with rental increases of 2.5% per year.
"The acquisition of the GoldCoast headquarters building advances our strategy of acquiring well-located distribution and logistics properties," according to Jeff Pori, CEO for Kingsbarn. "We intend to offer interests in this property as a replacement property for private investors who are in a 1031 exchange. Our Delaware Statutory Trust ('DST') program is among the largest and most robust in the country," Pori further stated.
The GoldCoast headquarters is ±61,888 square feet, has a 30-foot clear height in the warehouse area, and has 12 dock-high overhead doors and four drive-in doors. The property benefits from easy access to I-90 and I-94 as well as proximity to O’Hare International Airport.
Nationally recognized, GoldCoast Logistics Group is a full-service supply chain management provider specializing in the time-sensitive movement of goods, including trade show exhibit materials, entertainment equipment, and various other quick-move assignments. GoldCoast has a fleet of more than 1,500 trucks and trailers, has over 1,200 employees, and handles over 70,000 shipments per year.
ABOUT KINGSBARN REALTY CAPITAL
Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $2 billion of assets under management and has acquired over 270 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, industrial, retail, and hospitality. For further information, visit www.kingsbarn.com.
Source: Kingsbarn Realty Capital
