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VK Industrial VI LP, an acquisition fund managed by Enterprise One Actual Property and Kovitz Funding Group, has bought a 785,181-square-foot, two-building industrial portfolio in St. Charles, Ailing., for $50.2 million, in keeping with public information. The client took out a $30.4 million acquisition mortgage from Lake Forest Financial institution & Belief.
Cushman & Wakefield represented the vendor, recognized by CommercialEdge data as RR Donnelley.
Final yr, Enterprise One acquired a two-building portfolio in Waukegan, Ailing., by means of the identical industrial fund. These properties are some 40 miles from the newly acquired services.
The latest additions to Enterprise One’s portfolio
The 504,152-square-foot warehouse at 609 S. Kirk Highway modified arms for $31.7 million. Constructed in 1988, the partially air-conditioned facility options 30-foot clear heights, 45 dock-high loading doorways and three drive-in doorways. The 24-acre property is lower than 2 miles from DuPage Regional Airport and 44 miles from downtown Chicago.
The 281,029-square-foot constructing at 1750 Wallace Ave. bought for $18.5 million. The warehouse got here on-line in 1990 that includes 15 dock loading doorways, one drive-in door and clear heights starting from 21 to 31 toes. Some 80,000 sq. toes are air-conditioned. The distribution middle is 1 mile from the opposite facility.
Cushman & Wakefield Vice Chairs Mike Tenteris, Jim Carpenter and Adam Tyler, along with Govt Managing Director Scott Goldman and Govt Director David Friedland, negotiated on behalf of the vendor. Carpenter was just lately a part of the group that brokered the transaction of three industrial parks in Phoenix and Silicon Valley.
The Windy Metropolis’s blended indicators
Industrial gross sales in Chicago totaled $2 billion by means of the primary eleven months of final yr, the newest CommercialEdge industrial report reveals. Nevertheless, the $89 common value per sq. foot, whereas being 3.7 p.c increased year-over-year, was additionally significantly decrease than the $130 nationwide common.
In one in every of these transactions, Hines acquired a 1.1 million-square-foot industrial campus in Melrose Park, Ailing. AEW Capital Administration bought the two-building asset.
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