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WAUKEGAN, IL-ProLogis, headquartered in Denver, has acquired three industrial buildings with a total of approximately 544,000 sf for more than $30 million. ProLogis has purchased two buildings here at 1710 S. Lakeside Dr. and 3800 Sunset Ave. and purchased a building at 725 Landwehr Road in Northbrook. Cap rates were not disclosed.

The 209,000-sf building at 3800 Sunset Ave. was purchased from 3800 Sunset Partners LLC, a private investment company. The building is currently 52% leased by Corn Fields Inc. and Shogren Performance Marine. The 146,000-sf building at 1710 S. Lakeside Dr. was purchased from Chicago-based Medline Industries Inc., which will lease the building from ProLogis. The 189,000-sf building in Northbrook was purchased from the Chicago-based Revell Group LLC, who will also lease the building from ProLogis. Lease rates for the building's leased by Medline and Revell were not disclosed. The asking lease rate for the building at 3800 Sunset Ave. is $4.05 per sf, says Dave Riefe, senior vice president and Chicago market officer for ProLogis.

ProLogis purchased the buildings "to increase our presence in Lake County," Riefe says. The company now owns 108 distribution buildings, with a total of 22.7 million sf, in the Chicagoland area with eight in Lake County, he says.