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CRYSTAL LAKE, IL-CenterPoint Properties Trust Inc. has bought four industrial buildings here totaling 506,022 sf from Newark, NJ-based Prudential Insurance Co. of America, which reportedly got $20 million for the assets. The Oak Brook-based REIT’s 2003 acquisitions have averaged about $43 per sf, which would put the deal in the $22 million range.

All four buildings are in the Crystal Lake Business Center near Northwest Highway and Pingree Road in this northwest suburb about 50 miles from Chicago.

The buildings also include a 118,040-sf warehouse on eight acres at 450 Congress Pkwy. Glashaus Inc. is the main tenant in the building constructed in 1994.

CenterPoint also acquires a 115,600-sf warehouse on 7.4 acres at 220 Exchange Dr. Follet Corp. is the main tenant in the warehouse, built in 1995.

Mark B. Goode, and Roy L. Splansky, both Principals of Venture One Real Estate LLC, were the exclusive agents representing Prudential Insurance in the disposition of the portfolio. Assisting Venture One in the transaction was Noel S. Liston, senior associate of Elmhurst, IL-based Darwin Realty & Development Corp.

According to Splansky, Venture One received more than a dozen offers for the portfolio from both private and institutional investors. “The high level of interest in this offering was indicative of the quality of the properties,” he says.

All four buildings are leased to local and national tenants who represent a diverse group of industries including the financial, service, medical, manufacturing and distribution sectors. The pre-cast concrete facilities, developed between 1994 and 2001, were designed to accommodate warehouse, distribution or manufacturing users, and all are divisible to 15,000 sf.

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