News
SIZE MATTERS
May 4, 2011
| That's because by size, it's the biggest industrial sale in the Midwest since 2008: Interstate Properties and Towne Investments' sale of a 2M SF portfolio to Stockbridge Real Estate Funds for an undisclosed sum. | |||
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| In 2005, Interstate developed the seven properties that make up the portfolio in the Northwest Suburban submarket and the other in Wisconsin. It leased them up to 95%, says Cushman & Wakefield's Jim Carpenter and Ken Szady, who repped the seller. The sale was financed by a life insurance company through Cushman & Wakefield Sonnenblick Goldman. Jim senses all parties made out well because the developer created value for itself and the buyer will have a steady, liquid asset. The deal shows that well-leased Class-A industrial is selling in Chicago. | |||
