{"id":1004126615,"date":"2015-09-01T06:05:19","date_gmt":"2015-09-01T14:05:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004126615"},"modified":"2020-05-19T09:48:19","modified_gmt":"2020-05-19T17:48:19","slug":"centerpoint-parts-ways-with-chicago-suburb-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/centerpoint-parts-ways-with-chicago-suburb-asset\/","title":{"rendered":"CenterPoint Parts Ways with Suburban Chicago Asset"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Richard<\/a>

Richard Daly, Darwin Realty<\/p><\/div>\n

A private investor has acquired a 263,668-square-foot industrial building in Franklin Park, Ill., from CenterPoint Properties<\/a>.<\/p>\n

Darwin Realty & Development Corp. represented the seller in the transaction. The price was not disclosed.<\/p>\n

\u201cThe buyer was attracted to this property primarily because it is a manufacturing, multi-tenant facility that was 75 percent leased,\u201d Richard Daly, Darwin\u2019s president, told Commercial Property Executive<\/em>. \u201cThe property lies within Chicago\u2019s O\u2019Hare submarket that is currently experiencing low vacancy, coupled with low interest rates, which made it a good time to sell.\u201d<\/p>\n

After the transaction was complete, Darwin arranged a 52,000-square-foot lease within the building to a new tenant, Sutton Transport. That unit features 12 docks, one drive-door, interior floor drains and cooler space.<\/p>\n

Located at 2425-2553 Edington St., the property is situated on 13.43 acres, and benefits from close proximity to North and Grand avenues. The building features heavy electric power, heavy loading, and food grade cooler space.<\/p>\n

\u201cThe buyer has plans to renovate 70,000 square feet of vacant space within the building,\u201d Daly added.<\/p>\n

According to the president, the O\u2019Hare submarket offers good public transportation and excellent labor pool, which further made the property appealing. Furthermore, the buyer was attracted to the property due to the area\u2019s ample local labor force, abundant trailer parking and flexible space for multiple tenants.<\/p>\n

Cushman & Wakefield\u2019s Larry Goldwasser and Colin Green represented the buyer in the sale transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

CenterPoint Properties has decided now is a good time to sell its property in the Windy City’s O\u2019Hare submarket.<\/p>\n","protected":false},"author":451,"featured_media":1004126618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,13,21742],"tags":[],"class_list":["post-1004126615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"\nCenterPoint Parts Ways with Suburban Chicago Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/centerpoint-parts-ways-with-chicago-suburb-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CenterPoint Parts Ways with Suburban Chicago Asset\" \/>\n<meta property=\"og:description\" content=\"CenterPoint Properties has decided now is a good time to sell its property in the Windy City's O\u2019Hare submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/centerpoint-parts-ways-with-chicago-suburb-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-01T14:05:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T17:48:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Richard-daly.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"366\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/centerpoint-parts-ways-with-chicago-suburb-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/centerpoint-parts-ways-with-chicago-suburb-asset\/\",\"name\":\"CenterPoint Parts Ways with Suburban Chicago Asset - 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