HSA Commercial Real Estate executive vice president and managing director Tim Thompson says Midwest Warehouse & Distribution System needed the building along I-88, constructed in 1997 on a 15.5-acre site, for expansion. In addition to 30 docks, the building is served by a rail line. The company also owns warehouses in Denver, Los Angeles and York, PA.
While Thompson represented Midwest Warehouse & Distribution System, Jeff Kapcheck and Lynn Reich of Colliers Bennett & Kahnweiler handled negotiations for SSR Realty Advisors, which paid $62 million last year for the 274-unit multifamily rental building at 180 N. Jefferson St. Property records indicate Principal Life Insurance Co. financed the acquisition with a $10.4-million mortgage.
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