894,982-SF Industrial Portfolio Sold Off In Pieces

SAN FRANCISCO-An 894,982-sf, five-property industrial portfolio valued at $47.6 million has been sold off to three different buyers. The seller was a joint venture of GE Capital and an undisclosed client of RREEF.

The portfolio includes two properties located in Norcross, GA (a suburb of Atlanta in the Northeast submarket) totaling 464,892 sf, one in the Chicago suburbs of Bensenville and Wood Dale(part of the O’Hare submarket) totaling 203,074 sf and one park in Corona, CA (part of the Inland Empire market) that totals 227,016 sf. None of the sale prices were released. The offering price for the entire portfolio was $47.6 million.

The Atlanta-area properties, Oakbrook Parkway (333,916 sf, 25% office) and Peterson Place (130,976 sf, 40% office), were sold to Cabot Properties Inc. of Boston. The combined offering price for the two properties was about $20.5 million.