CHICAGO, IL- Jones Lang LaSalle's Capital Markets announced this week that the firm had finalized the sale of five large industrial buildings in the suburbs of Chicago, Indianapolis, Cincinnati and Columbus with a total of more than 2.7 million SF. The Welsh Property Trust purchased the group from KTR Capital Partners for $99.5 million.
The purchase continues the Minnesota-based Welsh's strategy of picking up almost-new distribution buildings with low vacancy rates and central locations. Welsh acquired similar facilities in 2011 when they spent $65 million for seven buildings in the Atlanta suburbs.
“Right now we get a deep bench of buyers” for similar offerings, Jones International Director John Huguenard told GlobeSt.com, but this “really fits their existing footprint well. Everyone wants Chicago and Indy.” Along with Executive Vice President Peter Harwood, he led the Jones team on the transaction.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
