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Conor Sells Phase 2 of Northwest Corporate Park
Conor Commercial Real Estate, along with joint venture partner Globe Corporation, has closed a $29.85-million sale transaction to Cabot Properties for Northwest Pointe II, a 385,372-square-foot industrial property in Elgin, IL. Recently leased in its entirety to Box Partners, Northwest Pointe II is located in Conor’s Northwest Corporate Park.
John Huguenard and Ed Halaburt of JLL teamed with Lee & Associates’ Ken Franzese and John Cassidy to represent Conor in the sale. In June, the buyer, Boston-based Cabot, made another Chicago-area acquisition when it paid $54.3 million to acquire the three-building Bridge Point 290 Business Park in Cicero, IL.
“This sale is consistent with Conor’s strategy to develop, lease and then sell Class A industrial buildings,” said Conor’s Brian Quigley. The company previously developed, leased and sold Northwest Pointe I, and plans to start construction on Northwest Pointe III in the spring of 2019.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
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