The tenant roster at the properties, scattered throughout theChicago market, include Mary Kay Cosmetics, Truserve, Tyco andMenlo Logistics. Average lease term at the properties is about sixyears, according to CenterPoint Properties Trust, which already isthe largest industrial property owner in the market with aportfolio of 37 million sf.

"Three of the buildings purchased are brand new and the bulk ofthe portfolio is institutional-quality," says CenterPointProperties Trust chief investment officer Paul Ahern.

The deal with HSA Commercial Real Estate is the largest of fournew pieces of business CenterPoint Properties Trust is doing. Italso is teaming with UBS Real Estate, which is contributing $60million, to develop the 362-acre CenterPoint IntermodalCenter–Rochelle. Closer to home, it eventually could build fivemillion sf just south of DuPage Airport.