Industrial N Illinois
PREMIER Design + Build Group breaks ground on Itasca industrial/retail development

PREMIER Design + Build Group breaks ground on Itasca industrial/retail development

PREMIER Design + Build Group has broken ground on a mixed-use, 48-acre development in northwest suburban Itasca, Illinois. The Bridge Point Itasca project for client Bridge Development Partners will feature three new industrial buildings totaling 741,621 square feet. In addition to the industrial buildings, Bridge Point Itasca will include more than seven acres of land newly zoned for retail use. PREMIER is providing design-build services on the project.

Industrial N Illinois
Marcus & Millichap arranges sale of Rockford self-storage facility

Marcus & Millichap arranges sale of Rockford self-storage facility

Marcus & Millichap closed the sale of a two-property self-storage portfolio, consisting of 100,623-square feet in Rockford, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The sites are located approximately 1.5 miles from one another at 3231 and 4850 N. Main Street in Rockford. Terms of the transaction were not disclosed.

Industrial N Illinois
Westmount, Stockbridge JV acquires 1.7-MSF Chicagoland industrial portfolio

Westmount, Stockbridge JV acquires 1.7-MSF Chicagoland industrial portfolio

Westmount Realty Capital and Stockbridge have partnered to acquire a 1.7 million-square-foot light industrial portfolio in the Chicago region. Stockbridge acquired the portfolio on behalf of the firm’s Value Fund III, a closed-end value-add vehicle. The portfolio includes 38 buildings in some of Chicago’s most sought-after submarkets including O’Hare, Lake County and Elgin. With this acquisition, Westmount now has more than 6.3 million square feet of industrial space in Chicagoland.

Industrial Midwest

Prologis to acquire Liberty Property Trust for $12.6B

Prologis and Liberty Property Trust have entered into a definitive merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction.