Boston-based High Street Realty added to its Chicago-area industrial holdings by acquiring an 11-property, 1.2M SF portfolio from a private investor. High Street, through its High Street Real Estate Fund V, paid $86M.

The portfolio is 86% leased. Seven of the properties are in Lake County and fully leased. An eighth at 1001 Asbury Drive in Buffalo Grove will be available on July 31. The other three properties are in Schaumburg, Bolingbrook and Lemont. The Schaumburg asset is available for lease. Prior to the deal, High Street owned 823K SF in industrial properties in Elgin, Aurora, Batavia, Elk Grove Village and Romeoville.

JLL International Director John Huguenard, who represented the seller with Managing Director Sean Devaney and Senior Vice President Ed Halaburt, said the portfolio allows High Street to acquire scale in three of the greater Chicago area's best performing industrial submarkets and to add value over time. Transwestern Midwest President Mike Watts told Bisnow last January investors are seeking value-add industrial portfolios. Competition for industrial portfolios in Chicago is strong due to the sector's strong real estate fundamentals and a lack of individual assets for sale.