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R2 Cos Buys Goose Island Warehouse for $13M

Chicago
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R2 Cos is already betting large on Goose Island and it's digging in deeper with its latest purchase: a 132k SF industrial building at 1315 N North Branch. R2 paid $13M for the three-acre site.

R2 managing principal Matt Garrison told us previously that Goose Island is primed to meet future demand for office and distribution tenants. The renderings Gensler drafted reveal Matt's bold vision for the submarket. The existing structure has 25- to 30-foot ceilings throughout. Matt wants to repurpose the building into a mix of office space and light industrial distribution, flooded with natural light.

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R2 has been a major player in and around Goose Island recently. It paid $8.2M for a three-acre site at 1200 N North Branch in May, bought a 110k SF building at 860 W Evergreen in October and now owns 13 acres on Goose Island. Matt says R2 is investing in Goose Island long-term and he'd buy all of Goose Island's 160 acres, if he could.

See Also: Behind the Deal: R2 Cos' Plan for Milwaukee's Downtown Post Office