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All together the REIT has entered into definitive agreements with two new operators and completed a transaction with a third new operator involving 24 hospital facilities for a total investment of approximately $1.75 billion.

Black Creek Group is the seller of the 37.5-million square foot portfolio, which is 96% leased.

The sale included a one-story, free-standing building totaling 10,000 square feet, which has recently been leased in its entirety to a medical tenant.

Transwestern Commercial states that multiple submarkets throughout the state are experiencing higher than 5% year-over-year growth in rents including Woodbridge/Metropark, Edison South, Parsippany Region, Hudson Waterfront, Wayne/Paterson and Somerset/Interstate 78 East.

The company signed its original lease for 18,368 square feet at the property in December and due to successful acquisitions and growth globally, the company increased its footprint in Chicago to continue its rapid growth.

Bridge Development plans the three-building Bridge Point 595 industrial project on 34 acres.