– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a $36.25 million two-property single-tenant industrial portfolio. The properties are a $19 million Staples distribution facility located in Oak Creek, Wis. and a $17,250,000 FedEx freight terminal located in Aurora, Ill. The properties may be purchased together or separately.
Nick Manganais, a vice president in Marcus & Millichap’s Chicago O’Hare office, is representing the seller, an Illinois-based family partnership. Matthew Fitzgerald, a first vice president investments in the firm’s Milwaukee office, is Marcus & Millichap’s broker of record in Wisconsin.
“Both properties are investment-grade assets that were built-to-suit for their tenants and both have excellent long-term cash-stream potential,” says Manganais. “The FedEx freight facility is one of just 17 FedEx Priority freight terminals in Illinois and the Staples warehouse is a hub distribution center for Staples and Quill-brand office products.”
The Staples distribution center is located in the southeastern Milwaukee metro area at 120 West Opus Drive in Oak Creek, Wis. The 279,828-square-foot facility features 259,828 square feet of warehouse space and 20,000 square feet of office space and can be expanded by 51,748 square feet. The facility has 46 loading and unloading doors with custom dock levelers or pit levelers. There is one custom door seal, one drive-in door, four trash pads and 22 trailer spaces.
The 63,740-square-foot FedEx freight terminal is located at 3883 Butterfield Road in Aurora, Ill., the second-largest city in Illinois and part of Chicago’s Naperville/Aurora metropolitan trade area. The property features a 55,120-square-foot main building with 6,800 square feet of office space. There is also 48,320 square feet of cross-dock working area, which serves as the customer center. The property contains a 6,550-square-foot three-bay repair/wash building, a 1,600-square-foot fueling facility and a concrete scale pit with an axle scale.
The freight terminal has 104 loading/unloading doors with custom dock levelers and custom door seals. There are 269 tractor/trailer parking spaces and a separate employee parking lot that can hold up to 91 cars.