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Two Industrial Portfolios Sell in Chicagoland

ELK GROVE VILLAGE, IL-The total warehouse space, sold to Brennan and Morgan Stanley, was almost 500,000 square feet here and in Harvey and Calumet City.

By Robert Carr | Updated on June 25, 2012

ELK GROVE VILLAGE, IL-Two industrial portfolios were recently sold in Chicagoland. A fund advised by Morgan Stanley purchased eight properties totaling 340,000 square feet here for more than $40 million, and Brennan Investment Group bought five buildings totaling 150,000 square feet in Harvey and Calumet City.

Morgan Stanley purchased five properties along Touhy Avenue, two properties on East Higgins Road and one site on Landmeier Road from Gullo International. Ken Szady, executive managing director at Newmark Grubb Knight Frank here, represented both parties in the transaction. He said in a statement that the portfolio is more than 90% leased by tenants such as SDV, Oriental Motor and Metal Processing Systems Inc.

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