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TradeLane Offloads Bridgeview Warehouse After Repositioning
OakBrook, IL-based TradeLane Properties has sold TLP Bridgeview Logistics Center at 7557-7575 S. 78th Ave. in Bridgeview, IL. CBRE Capital Markets’ Michael Caprile, Ryan Bain and Zach Graham represented TradeLane Properties in the disposition.
The buyer and purchase price weren’t disclosed. TradeLane acquired the 254,425-square-foot industrial building for approximately $12 million in October 2019, and has since repositioned it via the company’s value-add industrial platform, TradeLane Properties Fund I.
Upgrades to TLP Bridgeview Logistics Center included roof replacement, repaving of truck courts, new mechanical systems, LED lighting, stormwater detention relocation as well as the addition of parking and electrical charging locations for over more than 670 delivery vans.
TradeLane Properties expressed thanks to CBRE National Partners, Krusinski Construction Company, Pinnacle Engineering Group, CIBC Bank and Greenberg Traurig LLP for their assistance in the sale. In late June, TradeLane acquired a five-building industrial park in Elmhurst, IL for an undisclosed sum.
- ◦Sale/Acquisition