Marcus & Millichap Real Estate Investment Services represented the buyer of 350 Rohlwing Road, a 453,361-square-foot industrial building fully leased to Domtar Corp. A multinational paper producer, Domtar Corp. utilizes this building as its Chicago metropolitan area distribution center. The sales price of $20.5 million equates to $45 per square foot.
Marty Cohan, a vice president investments in Marcus & Millichap’s West Los Angeles office, represented the buyer, 350 WPI Rohlwing LLC. John Przybyla, first vice president of the firm’s Chicago downtown office and Marcus & Millichap’s broker of record for the state of Illinois, also provided representation.
“Core industrial assets on long-term leases to credit tenants, such as this 350 Rohlwing Road property, provide investors with stability, liquidity and very low management responsibilities,” Cohan said.
The net-leased property was listed with another brokerage firm. Consultation on financing was provided by Gregg Fox, based in Atlanta.
Domtar Corp. is publicly traded under the symbol UFS and as of December 2011 was rated BBB by Standard & Poor’s.
