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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  October 26, 2021
Greenstone flex-industrial portfolio Skokie IL
Paul Bubny
By: Paul Bubny

Greenstone Closes Sale of Skokie Flex/Industrial Portfolio

Greenstone Partners arranged the sale of a five‐building flex/industrial portfolio in Skokie, IL. The firm’s  Danny Spitz and Paul Tesdal represented the 248,737-square-foot portfolio’s seller, a private investor, and procured the buyer, an out‐of‐state, private investor. 

The historical occupancy for the portfolio has averaged 95% over the past 15 years. The mix of tenants within the portfolio is broad and diversified between national, international, and local companies with the typical tenant space ranging from 3,000 to 15,000 square feet.  

“We immediately experienced a strong level of buyer interest on a nationwide basis and had competing offers,’ said Spitz. “The type of buyer activity confirmed the rarity of this opportunity for a highly coveted submarket and asset class. There are seldom opportunities of this nature in the marketplace, and with the strong demand and outlook for industrial and flex assets, it provided a robust outcome for the seller.”  

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Greenstone Partners

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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