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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  July 5, 2022
NAI Hiffman has arranged the sale of a seven-property industrial portfolio totaling 1.4 million square feet across greater Chicago
Paul Bubny
By: Paul Bubny

NAI Hiffman Brokers Deal for Seven-Property Warehouse Portfolio 

NAI Hiffman‘s industrial capital markets team brokered the sale of the Chicago Strategic Logistics Portfolio, comprising seven industrial warehouse and distribution buildings throughout the Chicagoland region totaling 1,424,555 square feet. 

EVP Patrick J. Sullivan and VP Ryan Chambers represented the seller. The buyer was Ascendas Real Estate Investment Trust, a member of CapitaLand Investments, headquartered in Singapore. Deal terms weren’t disclosed. 

”The portfolio offers a critical mass of stabilized, well-maintained logistics- and warehouse-focused industrial facilities throughout the Chicago market,” said Sullivan. “Additionally, with continued tight market conditions and projected market rent growth in the double digits, there’s significant upside potential.”   

The portfolio is 100% occupied by 12 tenants, with a weighted average remaining lease term of 4.8 years.. Located in six infill and growing industrial submarkets throughout the Chicago MSA, the properties offer immediate access to vital distribution hubs, including airports, railways and major Interstate highways. 

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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 16-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 7-10 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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