Avison Team Trades Niles Industrial with Longtime Tenant
Avison Young has negotiated a 149,474-square-foot industrial building sale at 6035 Gross Point Rd. in Niles, IL. The property is fully leased to longtime tenant Fort Dearborn Company, one of the country’s largest producers of labels for consumer goods packaging.
Principals Erik Foster and Mike Wilson represented owners Dermody Properties and Chicago-based Wanxiang America Real Estate Group in the sale. The buyer was Plymouth Industrial REIT. Terms of the sale weren’t disclosed.
“This asset was well received in the market given its strong location and the high quality, long-term tenant in place,” said Foster. “Chicago remains one of the top industrial markets in the country and is a draw for national and international investors looking for stability and growth potential.”
The building is located in proximity to O’Hare International Airport, I-294 and I-94, along with the strong Northern Cook County labor pool.
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).