5555 E. 58th sits on an 8.5-acre site and was vacant at the time of purchase. CAG, along with its partner Streech Properties, leased the property first to Swift and then to FedEx.
The site’s central location, with access to major highways in the region, make it ideal for use as a truck terminal. It has additional potential for redevelopment as a Class A warehouse.
We’ve seen demand for truck terminal facilities vastly outstripping supply, and the terminal continues to perform spectacularly. As value-oriented investors, we love the options this site presents us going forward. We will proceed driven by where the value proposition leads us.