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Faropoint Establishes Chicagoland Base with 757K-SF Portfolio Acquisition
Faropoint has acquired a 757,017-square-foot industrial portfolio located throughout the Chicagoland area for an undisclosed sum. Colliers’ Jeff Devine, Steve Disse and Tyler Ziebel represented the undisclosed seller. Faropoint was not represented in the transaction.
“This acquisition provides Faropoint the opportunity to plant a flag in the Chicago market with a portfolio that has strong weighted average lease term and average tenure,” said Jordan Kovalsky, who leads Faropoint’s Midwest operations. “These properties are well located within the market, pushing us towards the creation of a last-mile ecosystem in Chicago.”
The Chicago Income Portfolio encompasses seven buildings. The properties are located in Elk Grove Village, Glendale Heights, Carol Stream, Hanover Park, Bolingbrook and Elgin.
The portfolio was 100% leased to 10 tenants at the time of acquisition. The tenant base includes a diverse mix of business sectors such as technology, manufacturing, robotics and energy.
- ◦Sale/Acquisition

