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GRAYSLAKE, IL-A venture of California-based Realty Income Corp. has purchased the site of a FedEx Ground distribution center at 1260 Rowena Road in Grayslake. The investor has acquired the 33-acre property from Chicago-based Equity Capital Management LLC for $29.7 million.

The 214,000-square-foot building in the Grayslake Business Park is on track for opening in August. The Grayslake deal was portion of a 33-property portfolio totaling 3.8 million square feet that Equity Capital planned to sell for $577 million to Realty Income.For the full story, go to Crain’s Chicago Business.

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