(Read more on the industrial market.)
GENEVA, IL-Inland Real Estate Exchange Corp., based in OakBrook, has acquired a distribution center at 1900 S. Batavia Ave.The sales price was $25.8 million. The 513,512-sf building wasacquired from Boston-based Houghton Mifflin Co. in asale-leaseback.
Inland Real Estate Acquisitions Inc. negotiated the sale onbehalf of Inland Real Estate Exchange Corp., both of which areaffiliates of Inland Real Estate Group of Cos. Inc. HoughtonMifflin was represented in the transaction by Cushman &Wakefield. The cap rate was nearly 7.8%.
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