NAI Hiffman announced its Industrial Capital Markets team brokered the sale of the Chicago Strategic Logistics Portfolio, comprising seven industrial warehouse and distribution buildings in Illinois totaling 1,424,555 square feet.
NAI Hiffman Executive Vice President Patrick J. Sullivan and Vice President Ryan Chambers represented the seller. The buyer was Ascendas Real Estate Investment Trust, a member of CapitaLand Investments, headquartered in Singapore.
The portfolio is 100% occupied by 12 tenants, with a weighted average remaining lease term of 4.8 years. It consists of high-quality, logistics-focused, single- and multi-tenant industrial buildings with value-add potential through mark-to-market releasing.
Located in six infill and growing industrial submarkets throughout the Chicago MSA, the properties offer immediate access to vital distribution hubs, including airports, railways, and major interstate highways.