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Chicago & Midwest  + Greater Chicagoland  + Industrial  | 

DHL-Occupied Logistics Site Trades in Off-Market Deal

Matthews Real Estate Investment Services has arranged the off-market sale of a DHL-occupied logistics facility in Franklin Park, IL, part of the O’Hare submarket. The concrete tilt-up construction building sold for $11.6 million at a sub-6% cap rate.

The 87,464-square-foot property on 10451 Waveland Ave. traded to the first buyer under contract. For that undisclosed buyer, the facility checked off all of the boxes for acquisition criteria, representing a rare opportunity to buy a mission-critical site a few blocks from O’Hare International Airport.

“Properties don’t trade often in this submarket, so we are pleased our client trusted us with this transaction,” said Maxx Bauman at Matthews. “It was a great opportunity for both parties: the seller got an incredible price for a short-term deal, and the buyer added a fantastic piece of real estate to their portfolio.”

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About Paul Bubny

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 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).