Atlanta-based MDH Partners today announces the lease-up of 7447 S Central Avenue, a 118,218-square-foot industrial building in Bedford Park, Illinois. Better Earth, a sustainable food service packaging company, has leased 55,718 square feet at the facility. Steve Connolly and Chris Gary of NAI Hiffman marketed and leased the building on behalf of MDH Partners. Calvin Gunn of Lee & Associates represented the tenant.
7447 S Central Avenue is situated on 4.47 acres and features four interior truck docks, 1,517 square feet of office space and 21-foot clear heights. The building is one of six in the Chicago Infill Net Lease Portfolio, purchased by MDH Partners in October 2021. The portfolio spans 1.3 million square feet and is located in the Bedford Park neighborhood of Chicago, which is approximately three miles south of Midway International Airport with direct access to the Belt Railway, the largest intermediate switching terminal railroad in the United States.
“The acquisition of the Chicago Infill Net Lease Portfolio in 2021 was a huge milestone for MDH as it marked our entrance into the Chicago industrial market,” said Drew Crawford, Vice President at MDH Partners. “Now, the lease-up of 7447 S Central Avenue to an Atlanta-based brand marks a full-circle moment. With a focus on sustainability and innovation, Better Earth’s values mirror MDH’s goals as we seek to reduce the environmental impact of our portfolio and do business with like-minded firms.”
Better Earth Compostables (Becompostable.com) is dedicated to delivering exceptional packaging solutions and services that effectively tackle the critical environmental challenges of the foodservice industry. With a steadfast commitment to sustainability, they actively participate in creating a stronger circular economy throughout their entire value chain. From supporting farmers who cultivate the raw materials they use, to assisting chefs who utilize Better Earth packaging for their food, and collaborating with commercial composters who return the waste back to the fields.
“7447 S Central Avenue presents an exciting opportunity for Better Earth to expand our reach across the Midwest and enhance our support for existing customers throughout the United States,” states Joseph Bild, CEO of Better Earth. “This state-of-the-art facility will serve as a strategic hub, enabling Better Earth to efficiently meet the growing demand for sustainable packaging solutions in the region. With increased production capacity and improved logistics, we will be poised to strengthen our commitment to environmental stewardship while delivering top-notch service to our valued customers nationwide.”
According to JLL, Chicago’s industrial vacancy rate in the first quarter of 2023 was historically low at 2.9%. Rents also continued to grow and were up nearly a dollar in the last 12 months. Positive tailwinds will continue to drive the sector as occupancy and rents remain high.
MDH Partners currently owns nearly 1.4 million square feet of industrial assets in Illinois. MDH Partners has remained active this year, acquiring nearly five million square feet of industrial assets throughout the U.S. since last January. The firm recently expanded its portfolio into new markets including California, Minnesota, Maryland, Indiana and Pennsylvania, and currently owns more than 101 assets across 20 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $6 billion (80 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com.
About Better Earth
Better Earth is a leader in sustainable foodservice packaging solutions. We offer a full range of commercially compostable products, including plates, bowls, trays, containers, cutlery, cups, and lids. Our product line is made entirely from sustainable materials such as bamboo, sugarcane, FSC Certified paper and bio-based resins, making them a viable alternative to traditional plastics and virgin wood fiber packaging. Better Earth’s products meet ASTM and EN standards for compostability. We are committed to helping customers meet their sustainability goals and strengthening the circular economy by leading sustainability initiatives across the value chain. For more information about Better Earth compostable products, visit our website at becompostable.com.