5/13/14

The Chefs' Warehouse Leases 108,000 SF at 2801 South Western Ave in Chicago

Chicago – The Chefs’ Warehouse has leased a 108,000 square foot warehouse at a 277,000 square foot industrial building located at 2801 S Western Ave in Chicago, Illinois. The space includes approximately 60,000 square feet of temperature controlled space and 9,000 square feet of office space.
The building will serve as the warehouse and distribution space for The Chefs’ Warehouse Chicago in combination with the recently acquired Allen Brothers Steaks. Founded in 1893, Allen Brothers is supplier of the highest quality prime steak to the best steak houses and restaurants in the United States. The new warehouse will allow The Chefs’ Warehouse to offer superior Allen Brothers steak alongside the unique, specialty ingredients currently offered by The Chefs’ Warehouse in other metro areas across North America.

The Chefs’ Warehouse was represented by John Basile of Colliers International. Ownership was represented by Sally Macoicz, Larry Goldwasser and Colin Green of Cushman and Wakefield.

The building was acquired in joint a venture of Venture One Real Estate and DRA Advisors in August of 2013 and is currently being renovated. Building improvements include the demolition of the interior truck court, façade enhancements, new energy efficient lights and new HVAC systems.

The building offers a rare combination of modern industrial amenities for an infill City of Chicago location. It features 28’-30’ clear ceilings, 31 exterior loading docks, 5 acres of outside storage, direct rail access and freezer/cooler space. At 28th Street and Western Avenue the building is located in the heart of the industrial food corridor between Damen and California along I-55.
Approximately 168,000 square feet remain available for lease. “The remaining space will have 26 exterior loading docks and up to four acres of secured outside storage space. In combination with its superior location at Damen and I-55, we believe it is the most desirable industrial space in the city of Chicago,” said Macoicz.

The project team includes Keeley Construction as the general contractor, Jacob and Hefner for civil engineering, Pease Borst and Associates for structural engineering and Ware Malcomb for architectural services.

Venture One Real Estate

Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.

DRA Advisors

DRA Advisors LLC was founded in 1986 and is a Registered Investment Advisor that specializes in real estate investment and management for institutional investors and manages $10 billion of assets. As of 9/30/17, DRA funds own 560 properties across the United States, including 39 million square feet of industrial, 30 million square feet of retail, 13 million square feet of office, and 13,000 multifamily units. DRA is headquartered in New York City, with regional offices in San Francisco and Miami. For more information, visit www.draadvisors.com.