Erik Foster and Mike Wilson of Avison Young‘s National Industrial Capital Markets Group have been awarded the exclusive sale listing of a four-building industrial portfolio totaling 900,000 square feet in the Chicago industrial market. The portfolio, owned by institutional investors advised by J.P. Morgan Asset Management, includes newer, fully leased buildings with strong credit tenancy.
The properties, all in the Greater Chicago market, include: • A 246,300-square-foot building at 25777 S. Cleveland Ave. in Monee, IL. The tenant is Liberty Furniture, a privately owned furniture manufacturer with a national distribution base. Built in 2001, the building has 30-foot ceiling heights. • A 239,700-square-foot facility at 25975 S. Cleveland Ave. in Monee, IL. DIY Group, a packaging, warehouse and distribution services company, leases 100 percent of the space, built in 2005. The building has 30-foot ceiling heights. • A 251,465-square-foot building at 1160 Pierson Dr., in Batavia, IL. The space is leased by DS Containers (193,465 SF), a consumer packaging company, and Superior Health Linens (58,000 SF), a healthcare supply company. Built in 2006, the building has 30-foot ceiling heights. • A 157,120-square-foot building at 5900 Carlson Ave. in Portage, IN, in Northwest Indiana, also considered part of the greater Chicago market. The building was built in 1995, has 29-foot ceiling heights and is leased to Manufacturing Solutions. The tenant is a leading manufacturing and engineering company.
“This portfolio offers investors a rare opportunity to secure core assets in Chicago’s strong industrial submarkets,” said Foster. “There is little supply of core assets, as many core properties have traded during the past few years. This portfolio should be in high demand from investors who want the long term stability that comes with owning modern buildings in a top tier market.”
