CHICAGO—STAG Industrial, a publicly-owned,Boston-based REIT, has just purchased a two-building portfolio withadjacent land sites at 1755-1795 N. Butterfield Rd. in suburbanLibertyville, IL.
"This was a unique opportunity for a company to buy higheryielding assets with a development upside as well," ErikFoster, principal, Avison Young, tellsGlobeSt.com. Along with principals Mike Wilson,John Hauser, Michael Fonda andHugh Williams, he represented the seller,Chicago-based Ashley Capital. "It's a stableproduct in an environment with plenty of tenants looking for newlocations."
The portfolio contains two fully-leased buildings, a 251,961square foot industrial building and a 35,141 square foot officebuilding, as well as two vacant lots zoned for industrial use.Financial details were not disclosed.
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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.
