Colliers Chicago’s Jeff Devine and Steve Disse facilitated the sale of a 400,000-square-foot distribution center at 101 N. Centerpoint Drive in Rochelle, Illinois, on behalf of a fund advised by the U.S. real estate business of UBS Asset Management. The purchaser, Hillwood Development, closed on the property in less than 45 days.
Well suited for today’s distribution users, the state-of-the-art logistics building sits on 21 acres and features a front-loading design, 30’ clear ceiling height, 40 truck docks and 79 spots for trailer parking. It is 100 percent leased to global toy manufacturer TOMY, the building’s only tenant since its completion in 2004.
At 1.4 billion square feet, the Chicago area industrial market is the third largest in the U.S. It remains a top choice for companies that want access to the area’s robust transportation infrastructure and customer base.
