A portfolio of 23 Chicago-area industrial properties has sold for $108 million. A subsidiary of New York-based KTR Capital Partners bought the portfolio from an unnamed group of private investors. Podolsky Northstar CORFAC International represented KTR in the sale. Podolsky will manage the entire portfolio for the new owners.
“This acquisition demonstrates the strength and vitality of the Chicago area industrial marketplace, and the general appetite for well-located, well-maintained and well-leased property,” says managing principal Randy Podolsky. “Through individual leasing plans and efforts to effectively manage operating costs, the portfolio has been a management success and value has been created.”
Podolsky says that more than 90% of the portfolio properties are located within five miles of O’Hare International Airport. The entire portfolio was more than 90% leased as of early April.