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Liberty Purchases Intermodal Warehouses for $60M

ELWOOD, IL-The properties, adjacent to the BNSF intermodal park, are about 50% occupied but should be easy to lease up, a Liberty executive says.

By Robert Carr | Updated on July 12, 2011

ELWOOD, IL-Liberty Property Trust has purchased two industrial buildings in the 2,000-acre CenterPoint Intermodal Center here, a total of 1.2 million square feet, for $60 million from Sydney, Australia-based Mirvac Industrial Trust. The move allows the Malvern, PA-based Liberty, which already has 6.3 million square feet of industrial property in the Chicago area, to jump into the region’s intermodal operations.

The properties include the one-million-square-foot distribution center at 21705 Mississippi St. and the 213,500-square-foot facility at 27413 S. Baseline Rd. The properties are about 50% leased each. DSC Corp. leases at the Mississippi Street facility, and NFI is taking half of the other building.

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