The tenant roster at the properties, scattered throughout the Chicago market, include Mary Kay Cosmetics, Truserve, Tyco and Menlo Logistics. Average lease term at the properties is about six years, according to CenterPoint Properties Trust, which already is the largest industrial property owner in the market with a portfolio of 37 million sf.
"Three of the buildings purchased are brand new and the bulk of the portfolio is institutional-quality," says CenterPoint Properties Trust chief investment officer Paul Ahern.
The deal with HSA Commercial Real Estate is the largest of four new pieces of business CenterPoint Properties Trust is doing. It also is teaming with UBS Real Estate, which is contributing $60 million, to develop the 362-acre CenterPoint Intermodal Center–Rochelle. Closer to home, it eventually could build five million sf just south of DuPage Airport.
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