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Avison Young completes sale of a multi-tenant portfolio in Illinois

Avison Young completes sale of a multi-tenant portfolio in Illinois April 27, 2022

Multi-tenant portfolio stretches across multiple submarkets in the Chicago area

Chicago, IL – Avison Young today announced that it has completed the sale of an infill industrial multi-tenant 450,034 square-foot (sf) portfolio consisting of seven buildings across O’Hare, North Chicago, North Cook, and Central DuPage submarkets.

Avison Young’s Erik Foster and Mike Wilson, Principals based in the firm’s Chicago office and members of the national industrial capital markets practice, along with Adam Haefner, Principal of industrial brokerage, represented the seller, Clear Height Properties."

The buyer was J&L Real Properties.

“The portfolio is well diversified with tenants which provide the investor stable cashflow for the future,” said Foster. “Each of the businesses sit in strong industrial submarkets which have sustained positive leasing activity, and were 94% leased at the time of the sale added Wilson.

The properties are strategically located in four submarkets offering access to deep labor pools, educated and skilled workforces, transportation systems, and growing populations. 

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 2021 winner of the Canada' s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.

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