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CBRE GI Fund Acquires 3-Building Portfolio
NAI Hiffman brokered the sale of a three-building industrial portfolio in the western Chicago suburb of Bartlett, IL and Phoenix. The GSI Family Office, along with Greco/DeRosa Investment Group, sold the three properties – located at 1323 Brewster Creek Blvd. and 1550 Hecht Dr. in Bartlett and 4450 N. 45th Ave. in Phoenix – to a discretionary fund managed by CBRE Global Investors.
GSI and Greco/DeRosa were represented by NAI Hiffman’s Pat Sullivan, Ryan Chambers and Jeff Fischer. JLL’s Tony Lydon and John Lydon assisted in the sale of the Phoenix property. Like 1550 Hecht Dr., which serves as Greco Foods’ headquarters, the Phoenix property has a cold-storage component.
“Nationwide, there is great demand for core industrial properties, especially with a cold storage component,” said Sullivan. “The pandemic accelerated a trend already underway—consumers’ growing demand for fresh and frozen foods—and it’s likely to continue.”
Pictured: 1323 Brewster Creek Blvd.
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- ◦Sale/Acquisition
