SIZE MATTERS

That's because by size, it's the biggest industrial sale in the Midwest since 2008: Interstate Properties and Towne Investments' sale of a 2M SF portfolio to Stockbridge Real Estate Funds for an undisclosed sum.
 
In 2005, Interstate developed the seven properties that make up the portfolio in the  Northwest Suburban submarket and the other in Wisconsin. It leased them up to 95%, says Cushman & Wakefield's Jim Carpenter and Ken Szady, who repped the seller. The sale was financed by a life insurance company through Cushman & Wakefield Sonnenblick Goldman. Jim senses all parties made out well because the developer created value for itself and the buyer will have a steady, liquid asset. The deal shows that well-leased Class-A industrial is selling in Chicago.
 
 

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

California Investor Scoops Up Amazon Warehouse: The Chicago Deal Sheet

How Crystal Lake 'Connects The Dots' To Building Complete Community

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Prologis Acquires 69 Acres For 1M SF Chicago-Area Industrial Development

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

First LaSalle Street Reimagined Conversion Opens In Chicago's Loop

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient