Cushman & Wakefield has brokered the sale of a 575,000-square-foot industrial property at 3451 S. Chicago Street in Joliet. The newly constructed asset traded from Molto Properties to Midwest Warehouse for $27.8 million.
Midwest Warehouse, a third-party warehousing and distribution services provider, will self-occupy approximately 366,000 square feet at the property. The space was vacant at the time of the sale. Otis Elevator occupies the balance of the building, which Molto Properties purchased in 2011.
Located on nearly 30 acres, 3451 S. Chicago Street features modern accommodations with 32-foot clear ceiling heights, heavy power, ESFR Sprinklers and T-5 lighting, ample loading and parking capacity and a fully fenced and secure yard.
Cushman & Wakefield’s Jason West and Sean Henrick, based in the commercial real estate services firm’s Rosemont, Ill., office, represented Molto Properties in the sale. Tim Thompson from HSA Commercial Real Estate served as broker for Midwest Warehouse.