37-Property Chicago Industrial Portfolio Trades for North of $150M
JBS Commercial Real Estate arranged the off-market sale of 37 Chicago-area industrial and flex properties representing more than 1.4 million square feet for north of $150 million. The seller was Rothbart Construction Realty; 33 of the properties went to Clear Height Properties and the remainder to individual parties.
Rothbart tapped JBS for brokerage support in 2010 while working to recover occupancy from the 2008 Great Recession. Within a few years, JBS raised and maintained occupancy from below 70% to more than 98%.
In lieu of publicly marketing the portfolio, Rothbart engaged JBS to reach out to a selected group of interested parties. JBS had also worked as a broker with Clear Height.
“The Rothbarts have done an excellent job of managing these properties, setting the industry standard for quality,” said JBS partner Brian Silverman. “We knew that this was a rare opportunity to sell such an exceptional portfolio.”