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Inland Provides Loan in Bedford Park Sale-Leaseback
Inland Bank and Trust closed on a $5,175,000 acquisition term loan for a 92,000-square-foot industrial building in Bedford Park, IL, a south suburb of Chicago. The property is 100% occupied by a national distribution operator.
Gia Tomaszewski, assistant VP of Inland Bank, originated the loan. The transaction consisted of a sale-leaseback, in which the tenant will lease back the warehouse property from the purchaser. The property is subject to a new long-term absolute net lease to the tenant, which will continue to operate the facility.
“The property benefits from its location in proximity to a large population basis, expressways and Midway International Airport,” said Tomaszewski. “The tenant has a long operating history at this location and has re-affirmed its commitment to the location by committing to a 10-year lease with multiple options to extend.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
- ◦Lease
