Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Downtown  + Office  | 

Carhartt HQ Building, Design Facility Acquired by Syndicated Equities

Syndicated Equities has announced the acquisition of Carhartt’s Global Design and Corporate Headquarters. The property, which is located at 5750 Mercury Drive in Dearborn, Michigan, is a 58,722 square-foot, two-story, Class A building.

The site is utilized as Carhartt’s corporate headquarters and is also its state-of-the-art global design center. Syndicated acquired the property in a Delaware Statutory Trust (DST) ownership structure to accommodate investors completing Section 1031 exchanges and accredited individual investors.

The sale was part of a transaction in which Net Lease Office Properties (NLOP), a publicly traded real estate investment trust, sold four U.S. office properties for gross proceeds totaling approximately $43.1 million. The Carhartt headquarters building sold for $9.8 million as part of a three-property portfolio in that transaction.

“Now, more than ever, we believe that consistent cash flow from an investment-grade tenant on a long-term lease is an excellent position to take amidst current market volatility,” said Syndicated, Managing Partner, Matt McCulloch.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.


Inside The Story

Syndicated EquitiesNLOP

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.