Illinois

NORTHBROOK, ILL. — Barnett Capital has sold a 20-property industrial portfolio to Brennan Investment Group for $84 million. Approximately 75 percent of the roughly 2.1 million-square-foot portfolio is in the Midwest. Five properties totaling 535,800 square feet are in Illinois. The largest property is a 378,325-square-foot building located at 1100 Corporate Drive in McHenry, Ill., a northwest suburb of Chicago. Developed in 1999, the property is leased to Brake Parts. Three of the properties are located in Missouri, three in Ohio, two in Indiana and one in Wisconsin. Other properties are located in Tennessee, Pennsylvania, South Carolina and Texas. The portfolio was 100 percent leased at the time of sale. Ryan Bain and Zach Graham of CBRE represented both parties in the sales transaction. Northbrook, Ill.-based Barnett Capital is the investment arm of the Barnett Family Office. Chicago-based Brennan Investment Group is an industrial property owner with nearly 29 million square feet in its portfolio.

ELK GROVE VILLAGE, ILL. — Continental Bindery Corp. has purchased a new headquarters facility in Elk Grove Village for an undisclosed price. The binding firm sold its current headquarters, located at 700 Fargo Ave., and purchased a 29,856-square-foot industrial facility at 1250 Pratt Blvd. Brian Carroll and Tom Gath of Newmark Knight Frank (NKF) represented Continental Bindery in both transactions. Adam Marshall of NKF represented the Pratt Boulevard property seller, which was an affiliate of Midwest Industrial Funds. The Village of Elk Grove, represented by Chris Nelson of Lee & Associates, purchased Continental Bindery’s previous 51,412-square-foot headquarters. The city will demolish the property and construct a new fire station and training center in its place. Continental Bindery will begin occupying the new headquarters this fall.

CHICAGO — Cushman & Wakefield has arranged the sale of a four-building industrial portfolio in West Town’s Kinzie Industrial Corridor in Chicago. The price was not disclosed. A joint venture between Clear Height Properties and Diamond Realty Holdings purchased the portfolio with plans to fully reposition it. Located at 404-434 N. Armour St. and 1514 W. Kinzie St., the properties span 45,568 square feet. By demolishing 1514 W. Kinzie and combining that site with the neighboring building at 1515 W. Hubbard and a vacant 14,000-square-foot site at 401 N. Ashland that the joint venture already owns, the new complex will support 46,000 square feet of space suited for flex/office, last-mile delivery or high-tech manufacturing. Larry Goldwasser, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield brokered the transaction. The team will also oversee lease-up of the redevelopment.