(Read more on the industrial market.)
AURORA, IL-Liberty Property Trust, headquartered in Malvern, PA,has purchased industrial buildings at 501 Airport Rd., in NorthAurora, IL, and 999 Bilter Rd., in Aurora, IL. The building inNorth Aurora was acquired from Chicago-based First Industrial andthe building in Aurora was acquired from CenterPoint Properties,based in Oak Brook, IL. The sales price was $25 million for bothproperties combined, says Don Schoenheider, vice president and citymanager for Liberty. Schoenheider would not disclose cap rates forthe sales.
The 120,000 sf building in North Aurora, which is located onfive acres, is currently 100% leased. Tenants include One SourceIndustries, Merillat and Continental Concession. The average leaserate for the building in North Aurora is in the "high $4's" per sfnet, Schoenheider says.
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