Avison Young completes 1.4-MSF portfolio sale1 Feb 2021
Chicago, IL – Avison Young today announced that it completed the sale of two structured credit tenant, net-leased properties totaling more than $570 million in value and representing 1.4 million square feet (msf). The two transactions closed in the second half of December and included an on-airport Amazon distribution center. Due to the nature of the transaction, and with respect to the confidentiality of the private buyers involved, the details of the transaction are not available.
Avison Young Principal and Chair of Global Capital Markets Earl Webb, Principal and President of U.S. Capital Markets John Kevill, Principal and Head of Net Lease Jon Hipp, Principal Jim Hanson and Senior Vice President Rich Murphy represented the seller, Mesirow Sale-Leaseback Capital, in the transaction.
“This was one of the largest investment sale transactions to occur in 2020 and we were extremely proud to be able to get this done for our client,” comments Kevill. “We have seen an increase in the demand for deals that provide buyers with long-term tax benefits and real estate appreciation.”
“There were some serious time constraints and many complicated components to the transaction, but our team was able to deliver, and it marked a very positive end to an otherwise challenging year," added Webb.
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities, and our workplace culture. To learn more, visit mesirow.com and follow us on LinkedIn.
Mesirow was recently named one of the Best Places to Work in Chicago by the Chicago Tribune and one of the Top Places to Work by Crain’s Chicago Business.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada' s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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