Avison Young negotiated the sale of a 73,246-square-foot industrial building in Chicago’s O’Hare market. Seal Beach, California-based XEBEC Realty Partners purchased the fully-leased facility located at 800-820 Thorndale Avenue in Bensenville.
The building is 100 percent leased to a strong roster of stabilized tenants. Among the tenants are Gogo LLC, an in-flight aviation technology company; Pharmerica, a healthcare supplier; Leman USA, a global transportation and logistics firm; and Black and Decker, a global tool manufacturer. These four tenants account for 75 percent of the building’s occupancy.
Located in a business park setting on 5.56 acres near Route 83 and Busse Road, the brick and concrete building features 30-foot by 30-foot column spacing and 25 dock doors.
Avison Young Principals Erik Foster and Mike Wilson completed the sale of the facility on behalf of the seller. The building, which was owned by an institutional investor, is located along the western entrance to O’Hare International Airport.
“Chicago’s O’Hare market continues to draw investors because of its superior location and importance to the nation’s supply chain,” comments Foster, who is also a practice leader of the firm’s industrial capital markets group. “This property was in high demand because of its strong tenancy, prime location and the limited supply of product that meets the requirements of national investment firms.”
Foster added that the property’s location is ideal for national and regional transportation and logistics companies due to its proximity to O’Hare and Chicago’s major transportation corridors: I-90, I-290, I-294 and I-355.