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MORTON GROVE, IL-CenterPoint Properties, based in Oak Brook, has sold a 290,000-sf industrial building at 8220 N. Austin Ave. to Weiss Properties, based in Skokie. CenterPoint had purchased the building from Lawnware Products in November, says Whit Heitman, principal with Paine/Wetzel•Oncor International.

Heitman, executive vice president Ed Barnett and vice president Samuel Badger Jr., all with Paine/Wetzel•Oncor International, represented both the buyer and the seller in the transaction. In the sale to CenterPoint in November, both CenterPoint and Lawnware Products were represented by Heitman and Barnett. Heitman would not disclose the sales price, but the asking price was $9.3 million or $32 per sf. CenterPoint reportedly purchased the property last year for $5.4 million and sold it to Weiss for $7.4 million. Since the building is currently vacant, Heitman said he could not estimate a cap rate.

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