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2M-SF Industrial Portfolio Goes for $122M

ITASCA, IL-ML Realty Partners LLC is buying the 21 building portfolio, in Illinois and Wisconsin, from CenterPoint Properties.

By Gina Kenny | Updated on June 14, 2007

(Read more on the industrial market.)

ITASCA, IL-ML Realty Partners LLC, based here, has purchased a 1.9-million-sf industrial portfolio from CenterPoint Properties, based in Oak Brook, IL. The purchase price was $122 million, ML Realty Partners president and CEO Michael Luecht confirms. A cap rate was not disclosed. Colliers Bennett & Kahnweiler represented CenterPoint Properties in the transaction.

The portfolio consists of 21 industrial buildings, with 16 buildings throughout the Chicagoland area and five buildings in Milwaukee. Some of the Chicagoland buildings are located in St. Charles, Elk Grove Village, Arlington Heights, Franklin Park, Glendale Heights and Elmhurst, Luecht says. The buildings are 90% leased. The portfolio includes both single-tenant and multi-tenant buildings, Luecht says.

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