CHICAGO—The FedEx distribution center at 1121Northpoint Blvd. in north suburban Waukegan has just been sold by aprivate fund manager, according to officials from AvisonYoung, who brokered the sale. Financial details were notdisclosed.

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Avison Young's national industrial capital markets team, led byprincipals Erik Foster and MikeWilson, along with principal John Moysey,an industrial specialist, handled the sale. The property was anoriginal build-to-suit for FedEx, which recently extended its leasefor the entire 35,000-square-foot building on a long termbasis.

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"FedEx has made a serious commitment to Chicago, maintaining 17freight terminals here,” says Foster, the practice leader of theindustrial capital markets group. "These types of well-locateddistribution centers with high-quality tenants and long-term leaseswill continue to command strong attention from investors."

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Located in Northpoint Business Park, thebuilding features 18' clear ceiling heights and parking for 108cars. The building also has one dock high door, 10 drive-in doors,including two truck repair bays. It was built in 1995 and FedExuses it for office, warehouse and maintenance functions. Thepre-cast concrete building sits on 4.45 acres in LakeCounty and features quick access to I-94 and the 3-wayinterchange of Rte. 41, Waukegan Rd. and Rte. 120.

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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.