CHICAGO— An affiliate of Premier Transportationrecently purchased a 319,683-square-foot industrial buildinglocated at 2635 Federal Signal Dr. in south suburban UniversityPark, one of the largest industrial sales to a user in Will Countyin 2014.
The Atlanta-based Premier provides transportation services andlogistics to retail and consumer products companies nationwide andwill use the property to consolidate and expand its Chicagooperations. Darwin Realty & Development Corp.,a firm in suburban Chicago, helped broker the sale. GeorgeCibula, and Rick Daly of Darwinrepresented the seller, a private investment group. JasonWest and Sean Henrick of Cushman& Wakefield worked on behalf of Premier. The partiesdid not disclose the price, but RealtyTracreported it as $8.4 million.
The company was looking for a building with more than200,000-square-feet and high-velocity docks, Daly tellsGlobeSt.com, and in this submarket that presents a challenge.“There is a lack of product for sale. In the past ten years, themajority of buildings were bought up by institutional investorsthat won't sell except as part of a larger portfolio.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
