SOUTH HOLLAND, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a new state-of-the-art 200,000-square foot Class A warehouse and distribution facility in South Holland leased to Liberty Furniture Industries. The listing price is $10 million.Howard Wiese, (top left photo) a vice president investments and senior director of Marcus & Millichap’s National Office and Industrial Properties Group in Chicago, is representing the seller, Hamilton Partners.
“This offering presents the investor with an opportunity to acquire a 2007-constructed institutional-quality distribution facility strategically located in Chicago’s south suburbs,” says W
iese.
iese. Located at 555 West 167th St., the building is situated on 10.97 acres and features easy access to Chicago’s central business district and all major airports. Interstates 80, 94, 294 and 57 are less than five minutes away.
“A close-in location is critical to many distributors who need to service city-based customers,” explains Wiese.
The building is leased to Liberty Furniture Industries, Inc., until April 2014 with annual increases in base rent of approximately 2.5 percent. The capitalization rate during the remaining lease term averages approximately 7.5 percent.Press Contact: Stacey Corso
Communications Department
(925) 953-1716
Communications Department
(925) 953-1716
No comments:
Post a Comment