{"id":1004275709,"date":"2018-10-31T03:54:42","date_gmt":"2018-10-31T11:54:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004275709"},"modified":"2022-12-08T14:06:19","modified_gmt":"2022-12-08T22:06:19","slug":"globe-corp-sells-industrial-portfolio-in-metro-chicago","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/","title":{"rendered":"Globe Corp. Sells Industrial Portfolio in Metro Chicago"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004275742\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004275742\" data-attachment-id=\"1004275742\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/454-scott-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\" data-orig-size=\"400,310\" 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;1&quot;}\" data-image-title=\"454 Scott Drive\" data-image-description=\"&lt;p&gt;454 Scott Drive&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;454 Scott Drive&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg?w=400\" class=\"wp-image-1004275742 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\" alt=\"454 Scott Drive\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004275742\" class=\"wp-caption-text\">454 Scott Drive<\/p><\/div>\n<p>A joint venture between Green Door Capital and Citimark Inc. has acquired an industrial portfolio consisting of seven properties totaling 447,059 square feet in the Chicago MSA. Globe Corp. sold the assets for $38 million.<\/p>\n<p><em>\u201cThe portfolio comprises very well-maintained and well-occupied assets that we are pleased to have acquired,\u201d<\/em> Shannon Westberg, Green Door Capital\u2019s principal, said in a prepared statement.<\/p>\n<p>A trio of the properties are situated in Chicago\u2019s Northwest Cook Industrial submarket. They are located at 5120 Prairie Stone Parkway in Hoffman Estates, 1124 Tower Road and 1555-1559 Brasswood Road in Schaumburg. Two others are situated in the busy I-80 Industrial corridor. Those comprise 3225 Corporate Dr. and 3301-3301 Corporate Dr. in Joliet. The two remaining properties in the portfolio include 454 Scott Dr. in Bloomingdale, which is in the North DuPage submarket; and 3720 Prairie Lake Court in Aurora, which is located in the I-88 Industrial corridor.<\/p>\n<p>HFF arranged the deal on behalf of the seller. Upon closing, the portfolio was 93 percent leased to 10 different tenants. Globe Corp. developed several of the properties and has owned all seven for more than 10 years.<\/p>\n<p><em>\u201cThe sale of the seven properties reflects a broader strategy within Globe Corp. to partner with and develop larger projects in our core markets,\u201d<\/em> Bert Getz, Jr., Globe Corp.\u2019s co-CEO, said. \u201c<em>We are pleased with the execution provided by the HFF team.<\/em>\u201d<\/p>\n<h2><strong>Strong industrial activity<\/strong><\/h2>\n<p>The industrial market in the Chicago area is considered the second-largest in the U.S., which created a great deal of interest in the portfolio.<\/p>\n<p>Cushman &amp; Wakefield\u2019s Chicago Industrial Market report for the third quarter of 2018 noted that the segment has been extremely active in 2018, with new leasing deals totaling 21.4 million square feet, which is a 52.9 percent increase year-over-year.<\/p>\n<p>HFF\u2019s investment advisory team comprised Senior Directors Kurt Sarbaugh and Robin Stolberg, Managing Director Stephen Skok and Analyst Sam Berry.<\/p>\n<p>In August, Broadband service provider WOW! <a href=\"https:\/\/www.commercialsearch.com\/news\/globe-corp-adds-tenant-to-cantera-development-in-il\/\">leased 39,620 square feet of space<\/a> in one of the buildings at Globe Corp.\u2019s Cantera business park in Warrenville, Ill.&nbsp;<\/p>\n<p><em>Image courtesy of Globe Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Green Door Capital and Citimark have teamed up on the acquisition of seven properties totaling 447,059 square feet, with an average occupancy rate of 93 percent.<\/p>\n","protected":false},"author":451,"featured_media":1004275742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21808,21748,21783,13,21742],"tags":[38618,32799,38625,32792],"class_list":["post-1004275709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-citimark","tag-cushman-wakefield","tag-globe-corporation","tag-hff"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Globe Corp. Sells Industrial Portfolio in Metro Chicago - 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\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Globe Corp. Sells Industrial Portfolio in Metro Chicago\" \/>\n<meta property=\"og:description\" content=\"Green Door Capital and Citimark have teamed up on the acquisition of seven properties totaling 447,059 square feet, with an average occupancy rate of 93 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/\" \/>\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=\"2018-10-31T11:54:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:06:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\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\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/\",\"name\":\"Globe Corp. Sells Industrial Portfolio in Metro Chicago - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\",\"datePublished\":\"2018-10-31T11:54:42+00:00\",\"dateModified\":\"2022-12-08T22:06:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg\",\"width\":400,\"height\":310,\"caption\":\"454 Scott Drive\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Globe Corp. Sells Industrial Portfolio in Metro Chicago\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\",\"name\":\"Keith Loria\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g\",\"caption\":\"Keith Loria\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Globe Corp. Sells Industrial Portfolio in Metro Chicago - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/","og_locale":"en_US","og_type":"article","og_title":"Globe Corp. Sells Industrial Portfolio in Metro Chicago","og_description":"Green Door Capital and Citimark have teamed up on the acquisition of seven properties totaling 447,059 square feet, with an average occupancy rate of 93 percent.","og_url":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-10-31T11:54:42+00:00","article_modified_time":"2022-12-08T22:06:19+00:00","og_image":[{"width":400,"height":310,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg","type":"image\/jpeg"}],"author":"Keith Loria","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/","url":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/","name":"Globe Corp. Sells Industrial Portfolio in Metro Chicago - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg","datePublished":"2018-10-31T11:54:42+00:00","dateModified":"2022-12-08T22:06:19+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg","width":400,"height":310,"caption":"454 Scott Drive"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/globe-corp-sells-industrial-portfolio-in-metro-chicago\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Globe Corp. Sells Industrial Portfolio in Metro Chicago"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f","name":"Keith Loria","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c971a04cf612cbf81bf5ac2e5ca5dfe85c32fa0d44d16ce044eee3b59755107d?s=96&d=mm&r=g","caption":"Keith Loria"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/keith-loria\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/454-Scott-Drive.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004275709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/451"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004275709"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004275709\/revisions"}],"predecessor-version":[{"id":1004275745,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004275709\/revisions\/1004275745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004275742"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004275709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004275709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004275709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}