ELMHURST, IL-Value Industrial Partners, based here, has purchased a nine-building industrial portfolio from Morgan Rreef Partnership, based in Oak Brook. The asking price for the portfolio was $16 million, says Brian Liston, vice president and a principal of Darwin Realty & Development Corp., based here. A cap rate was not disclosed.
Liston was the broker for Value Industrial Partners in the transaction. Mike Caprile and Ted Staszak, both with CB Richard Ellis, were the brokers for Morgan Rreef Partnership in the transaction.
The portfolio consists of 210,000 sf of office and warehouse buildings in Arlington Heights, Wood Dale, Willowbrook, Burr Ridge, Forest Park and Naperville. The buildings were constructed, on average, about 15 years ago, Liston says. The portfolio is fully leased and consists of single tenant buildings, he says. Liston said that the lease rate for the buildings "varies" and that he could give a rate range. Darwin Realty will be the managing and leasing agent for the properties.
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