Cushman & Wakefield Brokers $17.2M Industrial Sale
7 Jan, 2011, Chicago
Cushman & Wakefield of Illinois, Inc. (C&W) announces the sale of industrial property 1200 Greenbriar Drive in Addison, Illinois, on behalf of Lincoln Property Company. LaSalle Investment Management purchased the property for $17.2 million. Ken Szady, Executive Director, and Jim Carpenter, Senior Director of C&W brokered the sale.
"This represented the highest quality, best located industrial deal in Chicago that traded in 2010," Ken Szady said. "It's another sign that, long-term, all cash buyers are scouring the Chicago market for high-quality deals, and they are pricing them below 7 percent. I expect more sellers to bring high-quality properties to the market in early 2011."
1200 Greenbriar Drive is a 263,490-square foot, Class A industrial property that is currently 100% leased to nal.syncreon, a third-party logistics provider.