Meritex Developments Inc. sold a 444,740-square-foot industrial facility and 116 acres of land in Matteson, Ill., and then leased back a portion of the building for three years.

The value of the transaction was not disclosed.

TTR Matteson LLC, a private investment group, purchased the building, which is located at 21800 S. Cicero Ave. The property, built in 1971, is a multitenant warehouse facility that features 24-foot clear ceiling heights, 43 exterior docs, and two drive-in doors. The facility is served by the Elgin, Joliet, and Eastern Railway Co.

“Meritex opted to sell the facility as part of a revised investment strategy to reinvest in smaller multitenant industrial properties”, said Daniel Williams, chief investment officer for Meritex.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Register Here×
Connect Now is less than two weeks away. Prices go up May 30.Reserve your seat today.×