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AMB Picks Up O'Hare Facility for $33M

WOOD DALE, IL-Through its Alliance Fund III, San Francisco-based AMB Property Corp. acquires a 439,350-sf facility at 855 Wood Dale Ave.

By Dana Dubriwny | Updated on September 21, 2006

(To read more on the industrial market, click here.)

WOOD DALE, IL-San Francisco-based AMB Property Corp. on behalf of its AMB Institutional Alliance Fund III, has acquired AMB Compass Distributions Center, a 439,350-sf facility located at 855 Wood Dale Ave. The building, a 30-foot-clear, cross-docked facility leased to Albertsons, formerly Osco Drugs, was purchased for $32.75 million.

Mark Saturno, vice president, acquisitions of AMB Property Corp., says the acquisition strengthens the company’s ownership in the O’Hare submarket. “This is a great addition to AMB’s existing O’Hare portfolio which is currently over 6.8 million sf of industrial space,” he says. The company is expected to close more $100 million in acquisitions in the Chicago market by the end of third quarter 2006.

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