Colliers International brokered the sale of industrial buildings in January for a total of $61.7 million.
In the first transaction, Jeffrey Devine, Steven Disse, and Jeffrey Kahan, all principals with Colliers International’s Chicago-area Investment Services Group, represented Colony Realty Partners, LLC in the sale of
740 ProLogis Parkway in Bolingbrook, Ill. The transaction was valued at approximately $30.2 million. This marked the largest single-building sale in this market since January 2008. The buyer was LaSalle Investment Management.
740 ProLogis Parkway is an 805,912-square-foot single-tenant industrial facility located in the heart of the I-55 Corridor. Kimberly-Clark Corporation, which has occupied the building since its completion in 2006, is the sole tenant.
In a separate transaction, the team of Devine, Disse and Kahan represented CenterPoint Properties in the sale of a three-building industrial portfolio totaling 399,669 square feet. The transaction was valued at approximately $31.5 million and closed in January 2011. The buyer was High Street Equity Advisors LLC.
The three properties included:
Completed in 2009, this 270,140-square-foot multi-tenant facility features 25 exterior docks, four drive-in doors, and 30′ ceiling height. It is 100% leased to GPA Holding Company, Factory Motor Parts, and Nova Ortho-Med.
1001 Foster Avenue is a 79,372-square-foot industrial facility constructed in 1970. It is fully leased to Oldcastle Glass, the US subsidiary of large international building materials conglomerate CHR PLC. It features five interior docks, two exterior docks and three drive-in doors.
Constructed in 2000, 7100 Madison Street is a 50,157-square-foot precast industrial building on 6.3-acre site with 30,000 square feet of office space. The building is 100% leased to Trane Company.
