MELROSE PARK, IL-Duke Realty Corp. has acquired a 458,620-square-foot warehouse facility located at 1600 N. 25th Ave. in Melrose Park. The REIT has paid about $28.4 million or $62 per square foot to the State Teachers Retirement System of Ohio, a pension fund.
Mecalux SA, a Spanish producer of metal cracking, has leased the building entirely. Colliers International represented the seller in the deal. With this acquisition, Duke now manages over 1 million-square-foot industrial assets in the Interstate 290 submarket. For the full story, go to Crain's Chicago Business.
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