Industrial N Illinois Prologis to acquire Industrial Property Trust in $4B deal Logistics real estate giant Prologis, Inc. has signed a definitive merger agreement to acquire Industrial Property Trust Inc. (IPT). Prologis will acquire IPT's wholly owned real estate assets for approximately $3.99 billion in a cash transaction, including the assumption and repayment of debt. The transaction is expected to close by the first quarter of 2020 at the latest, following approval of IPT stockholders and other customary closing conditions.
Industrial N Illinois Avison Young negotiates 96,810-SF industrial lease for Biddeford Blankets Avison Young negotiated a 96,810-square foot lease on behalf of Biddeford Blankets at 13820 S. Business Center Drive in Green Oaks, Illinois. The heated blanket manufacturer is moving to Green Oak Business center from a Mundelein, Illinois location that it occupied for the last 15 years.
Industrial N Illinois Acer computer service center expands by over 50,000 SF in Lockport The Chicago office of Duke Realty has signed a lease with Acer Service Corporation, a repair and service provider for Acer computer products, for an additional 50,570 square feet in its building located at 16508 S. John Lane Crossing in Lockport, Illinois. Acer’s expansion, coming just 16 months after its initial, 166,024-square-foot lease, the 300,494-square-foot building, known as Lockport 16508, is 72 percent occupied.
Industrial i Ohio The Port partners with Colliers to list industrial properties in Cincinnati The Port of Greater Cincinnati Development Authority has enhanced its relationship with commercial real estate broker Colliers International, listing more than 70 acres of industrial property at 2100 Section Road and 2275 Seymour Ave. for sale with Colliers’ Senior Vice Presidents and Principals Bill Keefer and Chuck Ackerman.
Industrial N Illinois Brennan Investment Group taps Comcast to bring fiber into Elk Grove Technology Park Brennan Investment Group, the industrial developer behind the $1 billion Elk Grove Technology Park, has partnered with Comcast Business to bring its advanced fiber network to the technological innovation and business development hub now under construction in Chicago’s northwest suburbs near O’Hare International Airport.
Industrial W Minnesota Minneapolis' Founders Properties names VP of investments and acquisitions Chris Courneya has been promoted to vice president of investments and acquistions at Minneapolis-bsaed Founders Properties, L.L.C.
Industrial N Illinois Going streaking: Chicago industrial market extends run for quarterly metrics Record-low vacancy, historically sound rental rates and a brimming construction pipeline during the first half of 2019 have brightened the sheen on Chicago’s industrial market. Looking ahead, there are no signs of a slowdown.
Industrial O Indiana Colliers sells 254,000-square-foot industrial facility in Indianapolis Colliers International has closed the sale of 4310 Stout Field N Drive, a 254,460-square-foot industrial asset in the heart of the Stout Field Industrial Park in the Indianapolis market.
Industrial N Illinois CCRE brokers four suburban Chicago warehouse deals Chicagoland Commercial Real Estate, Inc. (CCRE) recently brokered four industrial deals at three locations around the Chicago metro. The transactions occured in Island Lake, Rolling Meadows and Schaumburg, Illinois.
Industrial N Illinois Cushman & Wakefield reps LTD Commodities in long-term Aurora renewal Cushman & Wakefield represented LTD Commodities on a 10-year renewal of its 694,367-square-foot distribution facility, located at 1000 Bilter Road in Aurora, Illinois. Acquired by e-commerce giant Amerimark Holdings in December 2017, LTD Commodities is one of the country’s premier catalog and online merchandisers.
Industrial Q Kentucky CBRE: Louisville's industrial market keeps on rolling How long has it been since the Louisville industrial market hasn’t enjoyed positive absorption? According to the latest research from CBRE, it’s been more than four years.
Industrial V Michigan Detroit office of Cushman & Wakefield adds industrial veteran Cushman & Wakefield’s Detroit office has hired an industrial broker with a wealth of experience in logistics.
Industrial N Illinois Avison Young negotiates sale of industrial property in Fox Valley submarket Avison Young has represented a national manufacturing company in the sale of a 117,472-square-foot industrial building at 1020 Olympic Drive in west suburban Batavia, Illinois. Oak Brook-based investor Midwest Industrial Funds acquired the asset for an undisclosed amount.
Industrial v Wisconsin Dickman Company sells 22,000-square-foot industrial building in West Allis The Dickman Company, Inc./CORFAC International closed the sale of a 22,405-square-foot industrial building at 2121 S. 55th St. in West Allis, Wisconsin.
Industrial N Illinois Duke Realty constructing 154,000 SF spec warehouse in O’Hare submarket Duke Realty is constructing a new, 154,512-square-foot warehouse on a recently acquired 8.15-acre site at 901 Chase Avenue in Elk Grove Village, Illinois. The building, which is being built on a speculative basis, will be located in the high-demand O’Hare submarket near the north cargo gate of the airport and within minutes of the I-90 and I-290/355 interchanges.
Industrial N Illinois Venture One fund acquires 78,862-SF Lombard, IL warehouse Venture One Real Estate—through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the acquisition of a 78,862 square foot industrial building located at 1001-1043 N. Lombard Road in Lombard, Illinois. The multi-tenant building is currently 86 percent leased to eight tenants.
Industrial N Illinois Brown Commercial Group brokers sale, two leases in Western Suburbs Brown Commercial Group represented three end users in one sale and two leases totaling 26,734 square feet in Chicago’s western suburbs. Each company was expanding its space to accommodate growth.
Industrial v Wisconsin Dickman Company sells 450,000-square-foot findustrial property in Milwaukee The Dickman Company, Inc./CORFAC International closed the sale of a 450,000-square-foot industrial building at 4265 N. 30th St. in Milwaukee.
Industrial N Illinois Conor Commercial cuts the ribbon on 265,550-SF industrial space in DuPage submarket Construction is complete on North Avenue Commerce Center a 265,550-square-foot, Class A industrial facility in Winfield, Illinois. Representatives from Conor Commercial Real Estate, Choose DuPage and the Village of Winfield recently hosted a ribbon-cutting ceremony to celebrate the opening of the largest commercial development in Winfield’s history.
Industrial N Illinois Spec industrial projects are right as rain Chicago just experienced its wettest May on record. But the inclement weather has done little to dampen the metro’s hot spec industrial development streak.