CHICAGO-An affiliate of New York City-based KTR Capital Partners is buying a 305,000-sf distribution building at 4404 W. District Blvd. The property is being acquired from Dominick's, a subsidiary of Pleasanton, CA-based Safeway Corp.
The sales price was not disclosed but similar properties in the area have sold for between $31 per sf and $36 per sf. A representative from KTR did not return a phone call seeking comment.
The building is on a 12-acre site with an additional 10 acres of land. The building has 3,500 sf of office space, 23-foot clear ceiling heights and 72 docks, according to a released statement from KTR on the acquisition. KTR plans to construct an 180,000-sf distribution building on the vacant site. The building will have highway parking and excess trailer parking, according to the released statement. In February 2006, Safeway announced that it was closing 14 underperforming stores in the Chicago metropolitan area.
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