Wednesday, October 31, 2012

$20.5 Million Industrial Building Sale Closed by Marcus & Millichap in Addison, IL

ADDISON, Ill., Oct. 30, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, represented the buyer of 350 Rohlwing Road, a 453,361-square foot industrial building fully leased to Domtar Corp.

350 Rohling Ave., Addison, IL

A multinational paper producer, Domtar Corp. utilizes this building as its Chicago metropolitan area distribution center. The sales price of $20,518,106 equates to $45 per square foot.

            Marty Cohan, a vice president investments in Marcus & Millichap’s West Los Angeles office, represented the buyer, 350 WPI Rohlwing LLC.

John Przybyla, first vice president of the firm’s Chicago Downtown office and Marcus & Millichap’s broker of record for the state of Illinois, also provided representation.

“Core industrial assets on long-term leases to credit tenants, such as this 350 Rohlwing Road property, provide investors with stability, liquidity and very low management responsibilities,” says Cohan. “We sorted through hundreds of deals to find this client an up-leg to complete a 1031 exchange. This property has it all: location, credit-tenant and long-term lease,” adds Cohan. “It is an excellent match for this repeat client.” 

The net-leased property was listed with another brokerage firm. Consultation on financing was provided by Gregg Fox, based in Atlanta.

Domtar Corp. is publicly traded under the symbol UFS and as of December 2011 was rated BBB by Standard & Poor’s.

Stacey Corso
Public Relations Manager
(925) 953-1716

No comments: