{"id":1004314898,"date":"2019-04-08T03:49:26","date_gmt":"2019-04-08T11:49:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004314898"},"modified":"2021-05-15T04:22:07","modified_gmt":"2021-05-15T12:22:07","slug":"transwestern-sells-2-lake-county-logistics-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-sells-2-lake-county-logistics-buildings\/","title":{"rendered":"Transwestern Sells 2 Lake County Logistics Buildings"},"content":{"rendered":"<div id=\"attachment_1004314901\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004314901\" data-attachment-id=\"1004314901\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/transwestern-sells-2-lake-county-logistics-buildings\/1940-usg\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg\" data-orig-size=\"643,499\" 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=\"1940 USG Drive\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1940 USG Drive. &lt;i&gt;Image courtesy of Transwestern&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg?w=643\" loading=\"lazy\" class=\"wp-image-1004314901 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg 643w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/1940-USG.jpeg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004314901\" class=\"wp-caption-text\">1940 USG Drive. <i>Image courtesy of Transwestern<\/i><\/p><\/div>\n<p>High Street Realty Co. has purchased a pair of logistics facilities totaling 108,554 square feet in Lake County, Ill. Transwestern Investment Group offloaded the portfolio on behalf of the Diversified International Partners Fund.<\/p>\n<p>The portfolio comprises a 48,529-square-foot warehouse at 1940 USG Drive in Libertyville and a 60,025-square-foot manufacturing facility at 927 N. Shore Drive in Lake Bluff. Both properties in the northern suburbs of Chicago are fully occupied.<\/p>\n<p><em>\u201cThis sale represents TIG\u2019s strategy to acquire high-quality, institutional assets in prime locations,\u201d<\/em> commented Richard Yeh, managing director at TIG in a prepared statement. <em>\u201cThe opportunistic sale produced an excellent total return for the investors on a shortened hold horizon.\u201d<\/em><\/p>\n<p>The Lake County industrial submarket posted nearly 1.3 million square feet of positive absorption in 2018, including 773,101 square feet in the fourth quarter, according to research by TIG. The overall Chicago market <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-market-still-going-strong\/\">had the largest industrial inventory in the nation<\/a> at nearly 1.3 billion square feet.<\/p>\n<p>Nationwide, almost 1 billion square feet of new inventory was delivered since 2015, but the average vacancy rate stood at 4.7 percent at the end of 2018, less than half of the post-recession high reached in 2010. Rents reached $6.29 per square foot in the fourth quarter following a six-year climb.<\/p>\n<p>Boston-based High Street Realty Co. partnered with Angelo Gordon to <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-chicago-industrial-portfolio\/\">pick up a four-building industrial portfolio<\/a> in the Chicago submarkets of O&#8217;Hare and South Cook from&nbsp;Hackman Capital Partners last December. The fully leased properties span a total of&nbsp;713,555 square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Transwestern Investment Group sold the portfolio on behalf of the Diversified International Partners Fund. The warehouse and manufacturing facilities in the suburbs of Chicago total more than 100,000 square feet.<\/p>\n","protected":false},"author":744,"featured_media":1004314901,"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":[35273,37952,33313],"class_list":["post-1004314898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-high-street-realty-company","tag-lake-county","tag-transwestern"],"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>Transwestern Sells 2 Lake County Logistics Buildings - 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\/transwestern-sells-2-lake-county-logistics-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transwestern Sells 2 Lake County Logistics Buildings\" \/>\n<meta property=\"og:description\" content=\"Transwestern Investment Group sold the portfolio on behalf of the Diversified International Partners Fund. 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