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Demand Keeps Growing for “Last-Mile” Projects

Huge class A buildings occupied by the likes of Amazon have popped up all over, but fewer groups are working on the smaller buildings needed to complete deliveries.

chi-CaryGoldman2013headshot (3) Cary Goldman, founder of Timber Hill Group LLC, a new Chicago-based private equity firm.

CHICAGO—Consumers’ escalating demand for the quick delivery of products they purchase online has begun transforming industrial real estate, and local executive Cary Goldman believes the time is right to launch a venture dedicated to the creation of “last-mile” distribution facilities. Timber Hill Group LLC, his new private equity firm, will target value-add product in major markets throughout the Midwest, investing in properties that will become core components of the global supply chain.

“The properties I’m considering are probably a bit overlooked,” he tells GlobeSt.com. Huge class A buildings occupied by the likes of Amazon have popped up all over the US, but Timber Hill will acquire smaller buildings and land parcels along major transportation arteries that can accommodate several tenants that need between 30,000 to 65,000 square feet of logistics space. “It’s a different niche, and not a lot of people are doing it. Some tenants have been stuck in 18’ clear buildings for 20 years.”

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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