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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  July 28, 2021
Paul Bubny
By: Paul Bubny

Colliers Duo Arranges Sale-Leaseback in Melrose Park

Colliers International Chicago’s Mike Senner and Tom Rodeno represented Promus Equity Partners, LLC, which led a recent investment in Caputo Cheese brand and business, in the sale-leaseback of four of its industrial facilities totaling 149,454 square feet. STORE Capital, a finance and net lease REIT, acquired the portfolio located in Melrose Park, IL, for an undisclosed price. 

The buildings are located at 1931 N. 15th Ave., 1945 N. 15th Ave., 1951-53 N. 15th Ave., and 2050 N. 15th Ave. and have served as cheese manufacturing and processing, distribution, storage facilities and a company store for Caputo Cheese for the past two-plus decades. They remain critical to the Caputo enterprise. Caputo signed a 20-year lease.

“We are pleased to have secured a solution for our client and appreciate the contributions Promus and STORE made to the seamless execution of this transaction,” said Senner.

Pictured: Mike Senner.

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Inside The Story

Colliers’ SennerColliers’ Rodeno

About Paul Bubny

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).
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