The 380,000-sf warehouse building is 15 years old, but is located a block north of O'Hare International Airport at 1905 Mount Prospect Rd. Trammell Crow Co. senior vice president Kenneth J. Szady tells GlobeSt.com the East Dundee, IL-based buyer had to fend off about a dozen competitors, most of them owner-operators and REITs.
"It is a great Chicago industrial asset, and our ability to respond quickly and predictably differentiated us from the other buyers," Luecht adds.
So far, Houston has proven to be the most fertile ground for Luecht's acquisition efforts, as ML Realty Partners picked up four assets since the middle of 2001.
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