Diamond Realty Sells Kinzie Corridor Asset After Upgrades
JLL recently arranged the sale of one of the first stabilized buildings in the Kinzie Industrial Corridor submarket for an undisclosed sum. 1901-1933 W. Fulton totals approximately 32,000 square feet, with three tenants and a surface parking lot.
A JLL team of Robin Stolberg and Sean Devaney worked on behalf of the seller, Diamond Realty Holdings, which first purchased the building in late 2018. With the goal of upgrading and repositioning the industrial building, Diamond Realty initiated an extensive upgrade.
“From the start, our strategy has always been centered around purchasing, upgrading and leasing industrial buildings located in highly desirable areas within the Chicago market,” said Josh Diamond, principal of Diamond Realty. “One of the reasons why this transaction was successful is due to our process of identifying the right asset, purchasing at the right basis, making strategic and very pointed improvements, then leasing and selling the asset quickly.”
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).
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