Meanwhile, a 249,754-sf industrial building at 3601 W. Howard St. is on the market at $8 million.

Current tenants at 7300 N. Linder include MPC Products, Dahlgren's Mailing Service, Thomas Industries and Hallmark Data Systems. Grubb & Ellis pegs vacancy in the near north suburban submarket at 8.2%, with asking rent rates at $4.63 per sf.

The building is a single-story structure with a brick and aluminum panel exterior, 12 exterior truck docks and six interior docks. The acquisition includes a 4.6-acre paved lot adjacent to the building. This gives tenants a parking ratio of 1.7 spaces per 1,000 rentable sf.

CMD Realty Investors has a 10-million-sf portfolio of office and industrial properties in Atlanta; Austin, TX; Colorado Springs, CO; Dallas; Denver; Fort Lauderdale, FL; Fort Worth, TX; Houston; Orlando; Phoenix; Raleigh-Durham, NC and Tampa. "Given the solid outlook for industrial markets in Chicago and nationally, we expect that this will be the first of many industrial acquisitions for us here and elsewhere," says president and CEO Steve Ellenbogen.

Jeff Kahan, Steve Disse and Lynn Reich of Colliers Bennett & Kahnweiler represented Hawthorn Interests, the seller, while CMD's VP of acquisitions, Joe Bowar handled negotiations for the firm.