CushWake Reps High Street in Lockport Industrial Sale
Cushman & Wakefield represented High Street Logistics Properties in its sale of 355 Logistics Center in Lockport, IL to a fund managed by a subsidiary of Ares Management Corporation, which recently acquired Black Creek Group’s U.S. real estate investment advisory and distribution business. Although terms weren’t disclosed, the property reportedly sold for $67.5 million.
Executive managing directors James Carpenter, Mike Tenteris and Adam Tyler represented Boston-based High Street.
“The 355 Logistics Center offering drew intense interest from a wide variety of potential investors,” Tenteris said. “We’ve always seen strong demand for quality assets in dominant submarkets like the I-55 Corridor, but that demand is currently at a historic peak that is sustainable for the foreseeable future.”
Located at 16342 and 16230 W 163rd St. in Lockport, 355 Logistics Center is a fully leased two-building industrial center. The 611,576-square-foot center was developed in 2018.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).