Breaking NewsGlobeSt.com will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

ELMHURST, IL-Value Industrial Partners, based here, has purchased a nine-building industrial portfolio from Morgan Rreef Partnership, based in Oak Brook. The asking price for the portfolio was $16 million, says Brian Liston, vice president and a principal of Darwin Realty & Development Corp., based here. A cap rate was not disclosed.

Liston was the broker for Value Industrial Partners in the transaction. Mike Caprile and Ted Staszak, both with CB Richard Ellis, were the brokers for Morgan Rreef Partnership in the transaction.

The portfolio consists of 210,000 sf of office and warehouse buildings in Arlington Heights, Wood Dale, Willowbrook, Burr Ridge, Forest Park and Naperville. The buildings were constructed, on average, about 15 years ago, Liston says. The portfolio is fully leased and consists of single tenant buildings, he says. Liston said that the lease rate for the buildings “varies” and that he could give a rate range. Darwin Realty will be the managing and leasing agent for the properties.

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.