CHICAGO—CenterPoint Properties Trust has justsold a 100,000-square-foot manufacturing facility on the North Sideto Alpina Manufacturing, the latest in a series ofsales that has helped further push down an already low vacancy rateon the city's North Side. Alpina, a Chicago-based picture framemanufacturing company, which currently has several facilities inthe metro area, plans to consolidate its operations into thenewly-acquired property at 6460 W. Cortland Ave. Although the pricewas not disclosed, Cook County records indicatethat Alpina paid $2 million.
Larry Goldwasser, Colin Green,and Brad Weiner of Cushman &Wakefield represented CenterPoint in the transaction.Ed Lowenbaum of LowenbaumREP, a Chicago-based commercial real estate firm,represented Alpina.
The free-standing building is surrounded by a mix ofresidential, industrial, and retail properties. It has been vacantsince 2009, and Alpina's plan to occupy it could be another signthat the Chicago North industrial submarket is recovering from thedownturn.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
