Centaur Capital Partners and Talos Capital have shelled out $72.2 million for the FedEx Ground distribution center at 5959 W. Howard St. in Niles, taking over the 314,028-square-foot complex that FedEx has occupied since it opened in 2015. The deal also includes more than 11 acres of supplemental land currently serving as trailer and vehicle parking, which gives the buyers optional room for expansion or a future redevelopment play.
Deal details
JLL Capital Markets, which represented the seller, said Centaur Capital Partners and Talos Capital acquired the site. The brokerage noted that the property spans roughly 37.4 acres and includes 291,511 square feet of warehouse space and 14,937 square feet of offices, along with 101 dock doors, 32-foot clear heights, a fully automated material handling system and an on-site fueling station that keeps operations running around the clock, according to JLL.
Price and context
The sale was recorded at $72.2 million, a figure backed by online property records and industry coverage. CoStar reported the price and pointed out that it trails the nearly $84.3 million SEDCO Capital paid for the same property in 2019, according to Cook County records.
What brokers said
Kurt Sarbaugh, one of the JLL brokers who marketed the asset, said “Investors were drawn to the uniqueness of the site and the mission-critical nature of the operation,” as quoted in CoStar. Brokers also highlighted the location as a key selling point, with the facility sitting about a mile east of Interstate 94 and roughly eight miles from O’Hare International Airport, a sweet spot for a Midwest distribution hub.
Who bought it
Centaur Capital Partners is the family office led by John G. Schreiber, a retired partner who co-founded Blackstone’s real estate group, according to an SEC filing that details his role at Centaur and his history with the private equity giant. Talos Capital notes on its website that it acted as Blackstone’s industrial investment arm in 2017 and has teamed up with Centaur on a multi-million-square-foot industrial portfolio across the Midwest, per SEC filings and Talos Capital.
What’s next for the site
The property includes about 11.2 acres of supplemental land that FedEx uses for trailer and vehicle parking, which gives the new owners optional expansion room or long-term redevelopment potential if the market shifts. JLL characterizes the location as supply-constrained within North Cook County, a factor investors say supports a long-range logistics strategy.
The Niles purchase underscores how family offices and specialized industrial investors are still chasing infill, mission-critical warehouses that combine steady rent checks with extra land on the side. Deals like this are likely to stay in the spotlight as buyers weigh the reliability of big-box tenants against the potential payoff of future conversion or higher-density development.
