Small Industrials in Recovery Mode
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72-92 Lively Boulevard in suburban Elk Grove Village
CHICAGO—The market for the smaller and older industrial properties that populate much of suburban Chicago has improved greatly in the past few years, especially for buildings that stabilized as the local economy righted itself.
Chicago Properties LLC, for example, has just sold a six-building industrial portfolio that includes industrial and flex properties throughout the Chicago suburbs. The company hired Transwestern to provide leasing services at the two single- and four multi-tenant assets, and since late 2012, it succeeded in significantly raising the occupancy rate. Chicago-based Clear Height Properties acquired the 146,342 square foot portfolio for an undisclosed amount and also decided to retain Transwestern…
