Colliers International | Chicago arranged the acquisition of a 193,000-square-foot industrial building located at 100 Progress Road in Lombard, Illinois. Exeter Property Group was the buyer while the seller was a private investor. Colliers’ David Bercu represented both sides in the transaction. The purchase price was not disclosed.
The property is located at I-355 and North Avenue in the Central DuPage County submarket. The building offers 24- to 29-foot clear ceiling height and is located on a spacious lot allowing for expansion, trailer storage and/or car parking. It also offers direct access to O’Hare International Airport to the northeast. The facility is fully leased, serving as the regional distribution center for Orora Packaging.
“We are excited to add this fully leased facility to our growing portfolio of assets in the Chicagoland market,” said Jason Defillippis of Exeter Property Group. “Vacancy rates remain exceptionally low in the Chicago area, particularly in the Central DuPage submarket, making us optimistic about acquiring additional long-term assets.”
Exeter Property Group is one of the largest real estate investment managers in the world, with a focus on acquiring, developing and managing logistics/industrial and office properties across the U.S., Mexico, Europe and Asia. The company has nearly $20 billion in assets under management.
