Colliers International Chicago arranges sale of Franklin Park industrial facility
Colliers International Chicago’s capital markets team of Jeff Devine and Steve Disse worked together with Colliers’ Tom Rodeno to represent Clarius Partners/Wanxiang America Real Estate Group in the sale of a new, 99,076-square-foot, Class A industrial facility located at 9300 King Avenue in Franklin Park, Illinois. Brookfield Property Group purchased the property for an undisclosed price.
The asset was constructed on a speculative basis and has not yet been occupied. Colliers, which took over the leasing agency for the building in mid-2020, noted the strong demand for new infill logistics facilities and was able to attract interest from a variety of investors. Brookfield has retained Colliers as the exclusive leasing agent for the building.
“The O’Hare submarket continues to see robust leasing activity despite the pandemic,” said Devine, a principal with Colliers Chicago. “Tom Rodeno has this building now well-positioned to lease in the near term. New ownership should see great long-term returns from this acquisition.”
