(Read more on the industrial market.)
BOLINGBROOK, IL-CB Richard Ellis Realty Trust has acquiredBolingbrook Point III, a 185,045-sf industrial building at 530 W.North Frontage Rd. The sales price was nearly $17.9 million. Theseller was McShane/MetLife Alliance, a joint venture betweenRosemont-based McShane Cos. and Morristown, NJ-based MetLife RealEstate Investments, confirmed Phil Kianka, chief operating officerfor CB Richard Ellis Realty Trust. A cap rate was notdisclosed.
The warehouse and distribution facility is fully leased to twotenants. Charlotte, NC-based Compass Group USA Inc., managed by itssubsidiary Coastal Food Service, leases 98,414 sf in the building,which includes 9,966 sf of cooler space, 11,520 sf of cooler dockstaging and 28,800 sf of freezer space, according to a pressrelease from McShane on the Compass lease.
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