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CBRE Global Investors Fund Snares Six-Building Chicago Industrial Portfolio
CBRE Global Investors added a 1.4-million-square-foot Chicago-area industrial portfolio to its commercial real estate holdings. The 95%-leased, Class A warehouse and manufacturing buildings were acquired by CBRE Strategic Partners U.S. Value 8 fund from institutional investors advised by J.P. Morgan Asset Management for a reported $95 million.
The six buildings in the market’s two largest industrial submarkets range in size from 90,000 to 690,000 square feet, including:
– 2700 Ellis Road, Joliet, IL
– 2101 W. Haven Road, New Lenox, IL
– 2201 W. Haven Road, New Lenox, IL
– 2200 W. Haven Road, New Lenox, IL (pictured)
– 2520 Diehl Road, Aurora, IL
– 494 E. Lies Road, Carol Stream, IL
CBRE Global Investors’ Robert Perry notes, “the SW/1-55 Corridor and West Suburban submarkets where these assets are located are expected to outperform the Chicago metro in terms of rent growth.”
Colliers International’s Jeff Devine and Steve Disse represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition