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CBRE Trust Buys 185,000-SF Building for $18M

BOLINGBROOK, IL-CB Richard Ellis Realty Trust acquired Bolingbrook Point III, which is fully leased to Compass Group USA Inc. and Kraus Floors LLC.

By Gina Kenny | Updated on September 27, 2007

(Read more on the industrial market.)

BOLINGBROOK, IL-CB Richard Ellis Realty Trust has acquired Bolingbrook Point III, a 185,045-sf industrial building at 530 W. North Frontage Rd. The sales price was nearly $17.9 million. The seller was McShane/MetLife Alliance, a joint venture between Rosemont-based McShane Cos. and Morristown, NJ-based MetLife Real Estate Investments, confirmed Phil Kianka, chief operating officer for CB Richard Ellis Realty Trust. A cap rate was not disclosed.

The warehouse and distribution facility is fully leased to two tenants. Charlotte, NC-based Compass Group USA Inc., managed by its subsidiary Coastal Food Service, leases 98,414 sf in the building, which includes 9,966 sf of cooler space, 11,520 sf of cooler dock staging and 28,800 sf of freezer space, according to a press release from McShane on the Compass lease.

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