Stockbridge Capital Buys Amazon Warehouse in Chicago for $86.5 Million

The California firm acquired the 767,000-square-foot Romeoville fulfillment center from Brookfield affiliate BGRE, which had valued the property at $58.1 million a year earlier.

By the Family Office Real Estate Daily Desk·Monday, September 21, 2026·1 min read

Editorial summary of reporting bybisnow.com Our editorial standards →

The answer · checked against bisnow.com

How much did Stockbridge Capital pay for the Amazon warehouse in Romeoville and who sold it?

An affiliate of Stockbridge Capital Group acquired an Amazon fulfillment center in Romeoville, Illinois for $86.5 million, closing Thursday. The 767,000-square-foot warehouse at 1125 Remington Blvd. was purchased from BGRE, the rebranded name of Brookfield Properties. When BGRE acquired the property in 2024, it was valued at $58.1 million, according to CoStar News.

Key facts

An affiliate of Stockbridge Capital Group acquired an Amazon warehouse in Romeoville for $86.5 million in a deal that closed Thursday, according to property records.
The warehouse at 1125 Remington Blvd. totals 767,000 square feet, according to property records.
Stockbridge Capital Group acquired the property from BGRE, the rebranded name of Brookfield Properties.
When BGRE acquired the property in 2024, it was valued at $58.1 million, according to CoStar News.
Sterling Bay and Ascentris landed a $93.5 million refinance for The Elizabeth, a 28-story, 350-unit apartment tower at 225 N. Elizabeth St. in Fulton Market, completed in 2024.
Axiom Properties sold two suburban Chicago apartment buildings — Westmore Apartments in Lombard and Whispering Trails in Naperville — for a combined $67.2 million, brokered by Northmarq's Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb.

Stockbridge Capital Buys Amazon Warehouse in Chicago for $86.5 Million — Image: editorial illustration · Story sourced from bisnow.com

An affiliate of Stockbridge Capital Group acquired an Amazon fulfillment center in Romeoville, Illinois, for $86.5 million in a transaction that closed last Thursday. The 767,000-square-foot warehouse at 1125 Remington Boulevard was sold by BGRE, the rebranded entity of Brookfield Properties, according to property records.

BGRE had acquired the property in 2024 at a valuation of $58.1 million, according to CoStar News. The sale price represents a 49% increase over that prior valuation in roughly one year.

The transaction is among the larger industrial deals to close in the Chicago market this quarter. Stockbridge Capital Group, based in California, operates as an institutional real estate investor across multiple property sectors.

Amazon occupies the property as a fulfillment center. The location in Romeoville sits within the Interstate 55 industrial corridor southwest of Chicago, a submarket that has attracted institutional capital for logistics facilities in recent years.

The sale follows a pattern of single-tenant industrial properties changing hands at premiums when anchored by investment-grade tenants. Amazon-leased warehouses have drawn particular investor interest given the tenant's credit profile and the secular growth in e-commerce distribution.

BGRE, formerly known as Brookfield Properties, has been disposing of select industrial assets across its U.S. portfolio. Brookfield rebranded its real estate operating arm to BGRE in 2024 as part of a broader organizational restructuring.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The arithmetic points to a clear co-investment opportunity: Stockbridge paid $113 per square foot for a credit-tenant industrial asset with an implied going-in cap rate in the mid-to-high 5% range, assuming typical Amazon lease economics. A family office writing a $15 million to $25 million cheque as co-GP alongside Stockbridge or a similar sponsor would gain exposure to single-tenant logistics without the overhead of direct asset management.

The 49% markup BGRE captured in a year argues for underwriting aggressive hold-period appreciation assumptions on institutional-grade industrial, but only if acquisition basis allows for it. Buying at $113 per foot in a secondary Midwest market leaves limited room for exit compression. A family office entering this trade today should model flat to modest cap-rate expansion and rely on rent growth and amortization for returns.

The preferred route is programmatic: a standing agreement with a sponsor such as Stockbridge or an industrial-focused operator to co-invest at cost on future Amazon or FedEx-anchored acquisitions in primary logistics corridors. A separate account structured as a fee-free joint venture on deals above $50 million allows the family to avoid blind-pool risk while still capturing the Amazon credit premium. Direct ownership makes sense only if the family has a Midwest industrial portfolio already and can absorb leasing risk at expiry.

Questions this story answers

01How much did Stockbridge Capital pay for the Amazon warehouse in Romeoville and what is the property?

An affiliate of Stockbridge Capital Group paid $86.5 million for an Amazon fulfillment center at 1125 Remington Blvd. in Romeoville. The warehouse totals 767,000 square feet. The deal closed Thursday, according to property records.

02Who sold the Romeoville Amazon warehouse to Stockbridge Capital and what did they pay for it?

BGRE, the rebranded name of Brookfield Properties, sold the Romeoville warehouse to Stockbridge Capital Group. When BGRE acquired the property in 2024, it was valued at $58.1 million, according to CoStar News, which first reported the sale.

03What recent multifamily deals closed in Chicago suburbs?

Axiom Properties sold two suburban Chicago apartment buildings for a combined $67.2 million. The properties are Westmore Apartments, a 230-unit complex in Lombard, and Whispering Trails, a 120-unit building in Naperville. Northmarq's Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb brokered the deal.

04What is the latest industrial development activity near O'Hare?

Seefried Industrial Properties completed demolition of three functionally obsolete office buildings at the northeast corner of Algonquin Road and Mount Prospect Road in Des Plaines and is progressing with construction on a three-building, 520,000-square-foot Class-A industrial development. This marks Seefried's 17th, 18th and 19th industrial development in the O'Hare submarket.

05What refinancing activity closed recently in Chicago's Fulton Market?

Sterling Bay and Ascentris landed a $93.5 million refinance for The Elizabeth, a 28-story apartment tower at 225 N. Elizabeth St. in Fulton Market. The property was completed in 2024 and includes 350 apartments. Draper and Kramer's Billy Barry and Bill Stewart led the team that closed the deal.

Browse every question the desk has answered →

Original reporting

bisnow.com

Read the original at bisnow.com →

industrialamazonlogisticschicagosingle-tenant

Peer Network · By Invitation

The Thesis Exchange

Share an investment thesis in confidence. We pair you anonymously with up to two other family offices running adjacent strategies. Reviewed by Gallium's editorial team. No vendor pitch.