Avison Young has been awarded the exclusive sale listing for a 538,236-square-foot, three-building industrial portfolio near the western entrance of Chicago’s O’Hare International Airport, a location in one of the nation’s top industrial markets.
The buildings at 1900-2020 Pratt Boulevard in Elk Grove Village, Illinois, are 100-percent leased on a long-term basis. The tenants, Clear Lam and D&W Fine Pak, are national food industry businesses with specialized needs for the buildings they occupy.
Avison Young Principals Erik Foster and Mike Wilson, both based in the company’s Chicago office and members of the firm’s National Industrial Capital Markets Group, will represent the owner, Mirvac, a Sydney, Australia-based integrated real estate company. The three single tenant buildings are part of a 24-acre portfolio.
“This is a tremendous opportunity for an investor who is looking to gain entry into one of the strongest industrial markets in the country,” Foster said, in a written statement. “With a strong location and long-term corporate tenancy, these institutional quality assets should attract widespread attention from investors.”
The portfolio is located just off the west entrance of O’Hare International Airport, a premier location for distribution. The portfolio includes three properties: 1900 Pratt Blvd, a 111,338-square-foot building, 1950 Pratt Blvd., a 165,212-square-foot building, and 2000-2020 Pratt Blvd., a 261,686-square-foot building.
Clear Lam, which leases the 1950 Pratt Blvd. and 2000-2020 Pratt Blvd. buildings, is a privately held plastic packaging firm headquartered at 2020 Pratt Blvd. The company develops and manufactures packaging materials utilized by detergents, food, personal health products, and electronic businesses. Among its customers are: Mars, Fisher Nuts, Burger King, Wendy’s and McDonalds.