Matthews™ Arranges the Sale of $11.6M Industrial Asset in Chicago, IL
Aug. 21, 2018
LOS ANGELES--(BUSINESS WIRE)--Aug 21, 2018--Matthews Real Estate Investment Services™ is pleased to announce the sale of an off-market, DHL in one of Chicago’s thriving industrial submarkets, Franklin Park, IL. The concrete tilt up construction building sold for $11.6 million ($132 PSF) at a sub 6% cap rate and was facilitated by Matthews™ Senior Associate, Maxx Bauman.
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Matthews Real Estate Investment Services™ is pleased to announce the sale of an off-market, DHL in one of Chicago’s thriving industrial submarkets, Franklin Park, IL. (Photo: Business Wire)
The 87,464-square-foot logistics facility is located at the prime location between the Tri-State Tollway and just blocks away from America’s 2 nd busiest airport, O’Hare International in Chicago, IL. The transaction closed with the first buyer under contract as it matched the buyer’s acquisition criteria perfectly being a rare acquire at a mission critical site in an incredible location.
“Properties don’t trade often in this submarket, so we are pleased our client trusted us with this transaction. It was a great opportunity for both parties – the seller got an incredible price for a short-term deal and the buyer added a fantastic piece of real estate to their portfolio,” said Bauman.
The Matthews™ Industrial Division prides themselves on their unwavering commitment to fulfilling their client’s investment goals. With their competitive market knowledge and expansive global database, the division has earned a reputation for excellence in execution in the industry. The industrial team is currently selling dozens of industrial facilities throughout the nation. For more information, please view our available industrial inventory.
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in Industrial, Net Lease, Shopping Centers, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.
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Matthews Real Estate Investment Services™
P: (310) 955-1776
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA ILLINOIS
INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Matthews Real Estate Investment Services™
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PUB: 08/21/2018 01:13 PM/DISC: 08/21/2018 01:13 PM