Cushman & Wakefield arranged the sale of two newly renovated industrial properties located at 6400 and 6500 West 51st St. in Chicago’s I-55 corridor.
51st Holdings, LLC purchased the 391,483-square-foot portfolio from Venture One Real Estate, LLC for $14.3 million.
Cushman & Wakefield Senior Directors Larry Goldwasser and Sally Macoicz, and Associate Directors Colin Green and Michael George represented both parties in the transaction.
Venture One acquired the portfolio in 2014 and completed a major capital renovation plan, including restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting.
In the past 12 months, only six sizable industrial properties exceeding 100,000 square feet have been sold along Chicago’s I-55 corridor.
The Cushman & Wakefield team facilitated the leasing, acquisition and disposition of five of those six assets, totaling more than 1.7 million square feet.
6500 West 51st Street was vacant at the time of sale, while 6400 West 51st Street was fully occupied with the logistics and supply chain management firm NADC Group occupying 208,713 square feet for its headquarters.