{"id":1004202534,"date":"2018-01-05T06:11:48","date_gmt":"2018-01-05T14:11:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202534"},"modified":"2022-12-08T14:22:38","modified_gmt":"2022-12-08T22:22:38","slug":"avison-young-brokers-638-ksf-chicago-industrial-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-638-ksf-chicago-industrial-deal\/","title":{"rendered":"Avison Young Brokers 638 KSF Chicago Industrial Deal"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004202535\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004202535\" data-attachment-id=\"1004202535\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-638-ksf-chicago-industrial-deal\/7400-w-100th-place-bridgeview-ill\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"7400 W. 100th Place, Bridgeview, Ill.\" data-image-description=\"&lt;p&gt;7400 W. 100th Place, Bridgeview, Ill.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;7400 W. 100th Place, Bridgeview, Ill.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png?w=800\" loading=\"lazy\" class=\"wp-image-1004202535 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png\" alt=\"7400 W. 100th Place, Bridgeview, Ill.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/7400-W.-100th-Place-Bridgeview-Ill..png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202535\" class=\"wp-caption-text\">7400 W. 100th Place, Bridgeview, Ill.<\/p><\/div>\n<p>Avison Young has facilitated the sale of a three-property industrial portfolio in two Chicago suburbs, Arlington Heights and Bridgeview, Ill. The assets encompass 637,746 square feet and belonged to a Chicago-based institutional pension fund advisor. They are 98 percent leased to long-term tenants. The buyer is\u00a0an institutional fund manager based in New York City.<\/p>\n<p>\u201c<em>This portfolio provides a tremendous opportunity for the new owner to gain access to the strong Chicago suburban market with assets that are well positioned for long-term growth,<\/em>\u201d said Avison Young Principal Erik Foster, in prepared remarks. \u201c<em>With strong tenants in place and the opportunity for rental growth, this portfolio was in strong demand from a variety of investors.<\/em>\u201d<\/p>\n<p>Foster and Mike Wilson, also a principal with Avison Young, closed the deal on behalf of the\u00a0seller. The same team has recently brokered another transaction comprising three <a href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-500-ksf-chicago-industrial-deal\/\">Chicago O&#8217;Hare industrial properties<\/a>.\u00a0<\/p>\n<h2>Property characteristics<\/h2>\n<div id=\"attachment_1004202536\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004202536\" data-attachment-id=\"1004202536\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-brokers-638-ksf-chicago-industrial-deal\/8811-s-77th-ave-bridgeview-ill\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"8811 S. 77th Ave., Bridgeview, Ill.\" data-image-description=\"&lt;p&gt;8811 S. 77th Ave., Bridgeview, Ill.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;8811 S. 77th Ave., Bridgeview, Ill.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png?w=800\" loading=\"lazy\" class=\"wp-image-1004202536 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png\" alt=\"8811 S. 77th Ave., Bridgeview, Ill.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/8811-S.-77th-Ave.-Bridgeview-Ill..png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202536\" class=\"wp-caption-text\">8811 S. 77th Ave., Bridgeview, Ill.<\/p><\/div>\n<p>The Arlington Heights property is located at 425-455 E. Algonquin Road, close to the four-way interchange at Interstate 90 and Arlington Heights Road. The 304,506-square-foot facility is 96 percent leased and includes\u00a07,605 square feet of office space and 12 interior loading docks.<\/p>\n<p>The other two distribution facilities, located in Bridgeview, are both fully leased. One is situated a 7400 W. 100th Place and can be accessed from Interstate 294 via a four-way interchange at 95th Street. It\u00a0offers 157,593 square feet\u00a0including 7,592 square feet for office use, two interior truck doors and two drive-in doors. On-site are a pair of five-ton and one-ton bridge cranes as well as a pair of two-ton monorail cranes.<\/p>\n<p>The other property provides\u00a0175,647 square feet at 8811 S. 77th Ave., near Interstate 55. It encompasses 8,200 square feet of office space, 16 interior truck docks and one drive-in door. \u00a0\u00a0<\/p>\n<p><em>Images via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The three assets making up the portfolio are located in Arlington Heights and Bridgeview, Ill., and were sold by a Chicago-based institutional pension fund advisor. <\/p>\n","protected":false},"author":1064,"featured_media":1004202535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21748,13,21742],"tags":[33022],"class_list":["post-1004202534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-avison-young"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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