Dermody Properties Purchases Far North Suburban Industrial Park
Portfolio sales helped carry Chicago industrial to the top of the real estate class last year, and that momentum carried over into the early weeks of 2018. New York Life Investment sold a three-building, 462K SF portfolio within Green Oaks Business Park in Lake Forest to a commingled fund managed by Dermody Properties. The sale price was not disclosed.
The buildings are at 13820 Business Center Drive, 13825 Business Center Drive and 13950 Business Center Drive, and are 86% leased at the time of closing. The buildings are near the Interstate 94/Route 176 highway interchange and have ceiling heights ranging between 24 feet and 28 feet, 40 docks and parking for 270 cars.
Colliers International's Steve Disse and Jeff Devine represented New York Life.
