Colliers International Chicago’s capital markets team of Jeff Devine and Steve Disse worked together with Colliers’ Tom Rodeno to represent Clarius Partners/Wanxiang America Real Estate Group in the sale of a new, 99,076-square-foot, Class A industrial facility located at 9300 King Avenue in Franklin Park, Illinois. Brookfield Property Group purchased the property for an undisclosed price.
The asset was constructed on a speculative basis and has not yet been occupied. Colliers, which took over the leasing agency for the building in mid-2020, noted the strong demand for new infill logistics facilities and was able to attract interest from a variety of investors. Brookfield has retained Colliers as the exclusive leasing agent for the building.
“The O’Hare submarket continues to see robust leasing activity despite the pandemic,” said Devine, a principal with Colliers Chicago. “Tom Rodeno has this building now well-positioned to lease in the near term. New ownership should see great long-term returns from this acquisition.”
