Avison Young announced the sale of a 125,00-square-foot industrial facility in the Chicago market that serves as a Midwest distribution hub for coffee and donuts chain, Dunkin’. The facility is located at 9000 W. 192nd Street in Mokena, Illinois.
Avison Young principals, Erik Foster and Mike Wilson, who are both based in the firm’s Chicago office and members of the company’s national industrial capital markets group, represented the seller, DCP Real Estate Group, LLC, in a partial sale-leaseback of the facility. The team worked in conjunction with Avison Young principal, Chris Lydon, and associate, Brian Pomorski, in Chicago.
The seller is a supply chain management company serving the franchisees of Dunkin’. Exeter Property Group, a global real estate management firm based in Philadelphia, acquired the asset for an undisclosed sum.
“This transaction illustrates how investors continue to focus on well-leased industrial facilities that support strong corporate businesses,” said Foster. “Food supply facilities continue to outperform many other industrial segments, making this a solid, long-term investment for the buyer.”
The facility is in the I-80 corridor, a major distribution sector connecting the Chicago market to regional and national transportation routes. At Q2 2020, the I-80 Corridor had 2.5 million square feet of net absorption and 1.56 million square feet of leasing activity, including large transactions from Amazon, according to Avison Young research. The I-80 Corridor also has 3.07 million square feet of construction underway, the highest amount of any Chicago submarket.