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Stream Realty Companions has secured $63 million in financing for the Chicagoland Industrial Portfolio, which includes 5 Class A industrial buildings within the Chicago metro space. JLL Capital Markets organized the five-year, fixed-rate mortgage.
The portfolio consists of the next properties:
• Mokena Logistics I and II, 268,226 sq. ft throughout two buildings at 8965 and 8905 W. 187th St. in Mokena within the Joliet submarket;
• Rockwell Logistics Heart, a 174,262-square-foot constructing at 2545 W. twenty fourth St. in Chicago within the Metropolis South submarket;
• Asbury Drive, a 157,500-square-foot constructing at 850 Asbury Drive in Buffalo Grove within the Lake County submarket; and
• Halsted Pershing Enterprise Heart, a 104,008-square-foot constructing at 815 W. Pershing Ave. within the Stockyards submarket.
Stream had bought 4 of the 5 buildings (all however the final one on the record above) from Westcore Properties for $83.5 million this previous July.
These Class A distribution and warehouse amenities complete 703,996 sq. ft, and have suites starting from 25,100 to 174,262 sq. ft with a mean clear top of 32 ft. The portfolio serves 10 numerous tenants, representing the IT, electronics manufacturing, health-care and development industries; meals distribution; and authorities businesses.
READ ALSO: E-Commerce Development Revives Industrial Market
The buildings are in infill distribution websites or close to key transportation networks throughout the Chicagoland MSA, in response to JLL, and are located in densely populated areas with intensive infrastructure and robust labor markets, enabling native and regional buyer entry.
The JLL Debt Advisory group was led by Senior Managing Director Colby Mueck, Senior Director Brian Walsh and Affiliate Tara Hagerty.
Portfolios are in style
Industrial portfolio transactions appear to be the “in factor” in Chicagoland this 12 months.
In July, Sperry Equities acquired the two-building, 640,000-square-foot Northwest Indiana Logistics Portfolio, in Portage, Ind., from Investcorp for an undisclosed quantity. JLL each brokered the deal on behalf of the vendor and organized a five-year, fixed-rate acquisition mortgage by New York Life Actual Property Traders.
In September, Enterprise One Actual Property bought a five-building, 421,638-square-foot industrial portfolio by its VK Industrial VII acquisition fund. Zilber Property Group was the vendor of the 5 buildings, in Mokena, Elgin, Willowbrook and Northbrook, Ailing.
Simply final week, Industrial Property Govt reported that metro Chicago led the Midwest in industrial gross sales, with a mixed $1.9 billion over the primary eight months of this 12 months. That determine represents 165 properties totaling 20.8 million sq. ft, in response to CommercialEdge information.
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