The deal was brokered by executive director Kenneth Szady and senior director Jim Carpenter, of Rosemont, IL-based Cushman & Wakefield Capital Markets Group.

"This is methodical selling, because there was a big renewal for one of the tenants and the property was in excellent shape in terms of marketability," Szady tells GlobeSt.com. "They are a long-term owner and building and they sell methodically over time, so this wasn't a distressed situation. They started building the park out over time, and the last building was completed about two years ago."

The properties all have been built within about the last decade, Szady says. The portfolio is 80% leased overall, with tenants including Borg Warner, Oxy-Dry Food Blends, NAL Worldwide, Automart International, Premier Freight Systems, Herregan Distributors Inc., and Chamberlain Group. Asking lease rates in the park are around $5 per square foot net.