TradeLane Properties obtains $64M refinancing for 13-asset light industrial portfolio

CHICAGO, July 15, 2025 – JLLCapital Markets announced today that it has arranged $64 million in refinancing for TradeLane Properties' Midwest Light Industrial Portfolio, a collection of 13 industrial assets totaling 1,072,021 square feet located in prime infill submarkets across Chicago and Cincinnati.

JLL worked on behalf of the sponsor, TradeLane Properties, to secure a floating-rate, five-year loan through a super-regional bank. The interest rate was fixed via a swap transaction, provided by JLL’s internal hedging and derivatives team, Kensington Capital Advisors.

The portfolio comprises 13 properties in Chicago’s top-performing industrial submarkets, including Northwest Cook, Lake County, North DuPage and Fox Valley, plus one strategic asset in Cincinnati's Tri-County submarket. The properties are fully leased to 17 tenants, with industries ranging from automotive and food users to manufacturing, distribution, e-commerce and pharmaceuticals.

The Chicago properties feature modern loading capabilities with multiple dock doors and flexible office configurations that accommodate diverse industrial uses. The Cincinnati property was recently expanded from 150,000 to 300,073 square feet to accommodate the tenant’s growth and further commitment to the asset.

The portfolio benefits from exceptional transportation access, with properties strategically positioned near major highways including I-94, I-294, I-90 and I-88 in Chicago, providing efficient distribution capabilities throughout the Midwest region. The Cincinnati property offers similar logistical advantages within the Tri-County submarket, which is Cincinnati's largest industrial submarket and located proximate to the I-275 and I-75.

The JLL Capital Markets team was led by Senior Managing Director Chris Gandy, Senior Director Lucas Borges and Director Ethan Habecker. In addition, JLL’s wholly-owned internal derivatives team, Kensington Capital Advisors, assisted Tradelane with the execution of an interest rate hedge to assist with managing the borrower’s exposure to floating interest rate risk.

"This portfolio provides the lender with an attractive basis, a high-quality tenant roster and geographic diversification within infill locations across top-performing industrial pockets in the Midwest," said Borges. "Additionally, this portfolio afforded TradeLane Properties the opportunity to reduce its cost of capital and repatriate equity to investors."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory, derivatives advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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TradeLane Properties is a privately held Industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping, and operating industrial real estate facilities focused on the Central U.S. markets of Chicago, Cincinnati, Columbus, Indianapolis, Louisville, Dallas-Fort Worth, Houston and San Antonio. For more information, visit www.tradelaneproperties.com.