Liberty Property Trust acquires 2 Carol Stream buildings
Tuesday, November 19, 2013 3:10 PM
ELK GROVE VILLAGE – Liberty Property Trust has purchased two industrial buildings in Carol Stream for $39.75 million.
Both buildings are fully leased to national tenants.
The first building, at 135-195 East Elk Trail, offers 334,718 square feet of space. It is leased to two tenants, the larger of which is Pampered Chef. The second, at 515 Kehoe Boulevard, provides 385,344 square feet and is fully leased to Office Depot.
“These properties provide us with even greater depth in Central DuPage County, a strong logistics market with easy access to I-355 and O’Hare Airport,” said Don Schoenheider, vice president for Liberty in the region. “With little developable land available in the region, Central DuPage is a highly desired ‘infill’ market and we are pleased to add these buildings, and some top national companies, to our roster.”
The buildings were acquired from an institutional owner. The seller was represented in the transaction by the team of Michael Caprile, Ted Stazak and Stephanie Park at CBRE.
Last month, Liberty concluded the purchase of a 177-building national industrial portfolio, with 24 of those in the Chicago region, and 12 in DuPage County.
The acquisition made Liberty the third largest industrial REIT in Chicago.
“We are approaching our 10th anniversary in the Chicago market with momentum and continued enthusiasm for this region,” said Schoenheider. “Our jump from eight to 12 million square feet of industrial space in just 45 days marks another milestone for Liberty and we look forward to many more.”
Liberty owns 47 buildings offering approximately 12 million square feet of space in the region, with concentrations of property in the I-55 Corridor, the Aurora/I-88 submarket and the Minooka/Elwood/I-80 Corridor, as well as in Southeastern Wisconsin.