Dermody Properties/DP Partners has announced the acquisition of a 149,474-square-foot industrial facility on 7.64 acres in Niles, Ill., for $3.5 million according to public records. It is a building currently leased to the Fort Dearborn Company through June 2016.
DP Partners purchased the property from prior owner TR 13126, LLC, via a joint venture with investment partner Wanziang America Corporation. The transaction closed December 9, 2010, and was managed by the DP’s Midwestern Region Office, and regional Partner, Andy James. TR 13126, LLC, was represented by Jeff Kahn, Jeff Devine and Steve Disse at Colliers International.
“This was a strategic acquisition for Dermody Properties/DP Partners,” said James, “We are excited about our new tenant, Fort Dearborn, and our new venture with Wanziang. The Colliers’ team did an excellent job facilitating this transaction.”
The Fort Dearborn Company has been operating in this facility at 6035 Gross Point Road for more than 50 years. Fort Dearborn is a leading supplier of labels for consumer goods packaging, including customers such as ConAgra and Campbell Soup.
