(Read more on the industrial market.)
MOUNT PROSPECT, IL-Opus North Corp., based in Rosemont, has soldthe 464,673-sf Briarwood Business Center for $42.7 million to INGClarion Partners, headquartered in New York City. The businesscenter consists of two industrial buildings at 901 Dempster Ave.and 1400 Algonquin Rd. A cap rate was not disclosed.
Opus North finished construction on the two buildings thissummer which are located on 27 acres, says Dave Everson, vicepresident of sales and finance. The buildings are currently about25% leased. Nissin Group of Tokyo and JAS Forwarding Inc. bothlease space at 901 Dempster. A lease rate was not disclosed. Ratestypically here are in the range of $5.61 per sf, according to athird quarter Grubb & Ellis market report.
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