
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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