April 5, 2019
Transwestern Investment Group (TIG) has sold a 108,554-square-foot industrial portfolio on behalf of the Diversified International Partners Fund. Boston-based High Street Realty Co. acquired the two Lake County logistics facilities for an undisclosed price.
The portfolio included a 60,025-square-foot manufacturing facility at 927 N. Shore Dr. in Lake Bluff, and a 48,529-square-foot warehouse at 1940 USG Dr. (pictured) in Libertyville. Both properties are fully occupied.
“This sale represents TIG’s strategy to acquire high-quality, institutional assets in prime locations,” said Richard Yeh, managing director at TIG. “The opportunistic sale produced an excellent total return for the investors on a shortened hold horizon.”
CBRE’s Michael Caprile, Ryan Bain and Zachary Graham provided disposition services for the portfolio.
Lake County is one of the Chicago region’s strongest industrial submarkets, with 4.8% vacancy at year-end 2018, according to Transwestern data.
For comments, questions or concerns, please contact Paul Bubny