CHICAGO – JLL capital markets has closed the sale of a712,051-square foot cold storage portfolio here. Lineage Logisticspurchased the four-asset portfolio from the seller, Investcorp.

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The portfolio comprises 2635 S. Western Ave. and 2658S. Leavitt St. in Chicago; 8424 W. 47th St. in Lyons, IL;and 1544-46 Hecht Drive in Bartlett, IL.

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The portfolio is currently 100% leased to 11 different tenants.The properties feature ceiling heights, ranging from 24 to 48 feetand additionally offer ambient temperatures ranging down to-10.

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Located within high barrier-to-entry Chicago markets, eachfacility allows for access to Chicago's urban core population.

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The deal represents one of the few multi-property, multi-tenantcold storage transactions, nationally.

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"What is unique about this cold storage portfolio is that it isa multi-tenant portfolio with fewer than four years of averageremaining lease term that was able to close in spite of uncertaintycaused by the COVID-19 pandemic," said JLL senior director, EdHalaburt.

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JLL marketed the portfolio on behalf of the seller. JLL'sindustrial capital markets team represented Investcorp, led bysenior managing director, John Huguenard, senior directors, EdHalaburt, Kurt Sarbaugh and Robin Stolberg, and managing director,Sean Devaney.

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Founded in 1982, Investcorp serves as a global provider andmanager of alternative investments. The company holds $31.1 billionin assets under management and currently employs 450 professionals,internationally.

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Controlled and operated by investment firm, Bay Grove, LineageLogistics serves as a provider of temperature-controlled logisticssolutions. The company's clients range from Fortune 500 companiesto small family-owned businesses.

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Storage Facility Site ChicagoCold Storage Portfolio

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.