Windy City Industrial Portfolio Changes Hands
- Sep 01, 2015
A six-building industrial portfolio recently changed hands in the Chicago metro area.
Marcus & Millichap arranged the $14.1 million sale of six triple-net-leased distribution centers in the city of Chicago and its surrounding suburbs.
Associates Timothy McJilton and Brett Rodgers of the broker’s Chicago O’Hare office represented the seller in the transaction and procured the buyer—AIC Ventures, an Austin, Texas-based private REIT founded in 1990. Patrick Dollaghan, director of Acquisitions at AIC, represented the company in the industrial deal.
“This fully leased industrial portfolio is located in prime areas across the Chicagoland counties,” said McJilton. “All of the properties are strong sites with access to major arteries and transportation.”
According to Brett Rodgers, the portfolio’s original owner had been in business for more than half a decade. McJilton also added that two of the six industrial buildings have great potential for redevelopment.
Image courtesy of Marcus & Millichap