Podolsky Northstar CORFAC International recently negotiated four industrial property sales totaling 582,300 square feet in Illinois and Nevada.
The total value of the transactions exceeded $32 million.
In the largest of the transactions, Rosdip Building Associates L.P. sold a 330,000-square-foot industrial warehouse in Des Plaines, Ill., to New World Property LLC. The transaction was valued at more than $14 million. New World Property LLC has leased the building, located at 30 E. Oakton St., to Columbus Foods, a food packaging and processing company specializing primarily in Italian olive oil. Columbus Foods will consolidate its six-building operation currently located in Chicago to the Des Plaines location.
In the second transaction, a private investment group sold Corporate Plaza of Elmhurst, located at 501 West Lake St., in Elmhurst, Ill. Bridge Development purchased the asset for approximately $7.2 million. The property is a two-building, 120,000-square-foot office/flex-tech industrial complex.
In a third transaction, Jarham Building Associates sold a 90,000-square-foot building at 3712-3714 Jarvis in Skokie, Ill., to CenterPoint Properties. The building was 100 percent leased at the time of sale.
In the final deal, a Chicago-based investment group sold a 42,300-square-foot industrial building within the Telegraph Road Industrial Park in Reno, Nev. The sale price exceeded $2.5 million. Western Waste Solutions, a waste management firm based in Reno, acquired the property, which also includes an additional acre of land for future expansion possibilities. Western Waste Solutions will occupy the facility.
Podolsky Northstar CORFAC International provides commercial real estate services primarily in the Midwest.