Cabot Properties closed the disposition of the North Central Portfolio, a collection of 11 modern industrial properties totaling approximately 2.5 million square feet across key industrial submarkets in Greater Chicago and Minneapolis, Minnesota. The diversified portfolio, which includes assets both developed and acquired by Cabot, was purchased by a prominent global asset manager.
Six of the properties are located in the North/Central Kane County and West Suburbs submarkets of the Greater Chicago area and include four cross-dock facilities and two rear-load properties, totaling approximately 1.6 million square feet. The facilities have an average vintage of 2019, and feature modern industrial specifications, including 32-foot clear heights, ESFR sprinkler systems, 130-to-185-foot truck court depths, and efficient loading configurations. The buildings are 97% occupied by a variety of tenants across various logistics and distribution uses. The North and Central Kane County industrial submarkets continue to benefit from strong fundamentals and tenant demand, with the North Kane vacancy rate at 5%, and the Central Kane vacancy rate at 6.6%, as of Q1 2026, per CoStar. The West Suburbs submarket of Chicago has continued to outperform the broader market with a vacancy rate of 2.7% as of Q1 2026, per CoStar.
The additional five buildings comprise approximately one million square feet across Minneapolis’ Northwest and Southwest submarkets. The rear-load facilities have an average vintage of 2014, and feature modern industrial specifications, including 32-foot clear heights, ESFR sprinkler systems, and 130-to-155-foot truck court depths. The properties are 100% leased to a variety of distribution and light manufacturing occupiers. The Minneapolis market benefits from healthy industrial fundamentals, with a vacancy rate of 5.2% in the Northwest submarket, and a 6.8% vacancy rate for the Southwest submarket as of Q1 2026, per CoStar.
The Chicago-based CBRE Capital Markets team represented Cabot in the transactions.
