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CushWake Reps High Street in Lockport Industrial Sale
Cushman & Wakefield represented High Street Logistics Properties in its sale of 355 Logistics Center in Lockport, IL to a fund managed by a subsidiary of Ares Management Corporation, which recently acquired Black Creek Group’s U.S. real estate investment advisory and distribution business. Although terms weren’t disclosed, the property reportedly sold for $67.5 million.
Executive managing directors James Carpenter, Mike Tenteris and Adam Tyler represented Boston-based High Street.
“The 355 Logistics Center offering drew intense interest from a wide variety of potential investors,” Tenteris said. “We’ve always seen strong demand for quality assets in dominant submarkets like the I-55 Corridor, but that demand is currently at a historic peak that is sustainable for the foreseeable future.”
Located at 16342 and 16230 W 163rd St. in Lockport, 355 Logistics Center is a fully leased two-building industrial center. The 611,576-square-foot center was developed in 2018.
- ◦Sale/Acquisition
