Podolsky|Circle CORFAC International has completed the sale of an investment portfolio totaling more than 1 million square feet. Steven H. Podolsky and Corey B. Chase, both principals with Podolsky|Circle, represented the purchaser, a Boston-based real estate investment company, in the transaction.
The portfolio consisted of eight industrial buildings all located in Belvidere. At the time of sale, the buildings were 94 percent occupied.
The seller, The LandMark Group, is one of the largest privately held commercial real estate development companies in the Midwest. The company offers comprehensive services ranging from site acquisition and land development to architectural design, construction and project financing.
“This transaction was made possible due to the overall tenant mix and creditworthiness, as well as the quality of the real estate,” Chase said.
“The buildings ranged in size from 70,000 to 250,000 square feet and were all modern buildings with 28-foot to 30-foot clear ceilings and ESFR sprinkler systems,” Podolsky said. “This portfolio represents the majority of the newer modern industrial buildings in the Belvidere area.”
In assisting with this transaction, Podolsky|Circle worked with John Folvig, a partner at LandMark since 2000.
The LandMark Group was self represented in the transaction.
