CHICAGO—Northbrook-based Barnett Capital has just sold for $84 million a 20-property, almost 2.1-million-square-foot portfolio to Brennan Investment Group. About 25% percent of the portfolio—five buildings totaling more than 535,800 square feet of space—is located in metro Chicago, in Chicago Ridge, Libertyville, Lombard, McHenry and Romeoville. Individual property prices within the fully-occupied portfolio were not disclosed.
“This institutional-quality portfolio is comprised largely of single-tenant facilities that are well-located in markets across the US, with a heavy concentration in the Midwest,” says Dan Shachtman, senior director of commercial real estate, Barnett Capital. “It was an appropriate time to sell once we had met the investment objectives we set out to achieve as we amassed this portfolio.”
And the company sounds ready to acquire additional industrial real estate properties. Shachtman says it will focus on value-add opportunities, ranging in size from 20,000 to 250,000 square feet and value from $2 million to $15 million, in the greater Chicago market.
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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.
