CHICAGO—Investors now consider new industrial facilities one of the best assets to own, especially ones in tight Chicago-area submarkets. Barings Real Estate Advisers, acting on behalf of an institutional client, has just purchased Bloomingdale Corporate Center, a trio of buildings in Bloomingdale, IL, just months after they were completed. The 276,250-square-foot, 20-acre industrial business park was developed by IDI Gazeley and built by Peak Construction.
Elise Couston and Adam Marshall, senior managing directors in the NGKF's Chicago office, represented Barings in the transaction, and NGKF has been awarded the property management assignment of the park. Brit Casey and Al Caruana of Cushman & Wakefield represented the seller, IDI.
Completed in the fourth quarter, the park's three buildings at 255 Madsen, 260 Madsen and 270 Madsen are 51,600 square feet, 70,650 square feet and 154,000 square feet, respectively. All three feature substantial loading docks, concrete truck courts, 30' clear ceilings, Ductilcrete floors, T-5 Lighting as well as ESFR sprinkler systems.
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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.
