Colliers Brokers Sale of 2.4 MSF Industrial Portfolio Across Three Markets
CHICAGO, CINCINNATI AND MEMPHIS, TENN. — Colliers International has brokered the sale of a four-building industrial portfolio spanning 2.4 million square feet for approximately $200 million. The Class A assets are located in the Chicago, Cincinnati and Memphis markets. Jeff Devine, Steve Disse, Tyler Ziebel and Alex Cantu of Colliers represented the seller, IDI Logistics. Canadian-based Granite REIT was the buyer.
The Chicago-area property is located in Antioch, Ill. Constructed in 2015, the building spans 454,276 square feet with a clear height of 36 feet, parking for 139 cars and 136 trailers. The property is fully leased to two tenants.
The two Memphis-area assets are located just over the state border in Olive Branch, Miss. The first facility is located at 12577 Stateline Road and spans 408,197 square feet. Built in 2016, the property features a clear height of 32 feet and is fully leased. The second building is located at 8740 S. Crossroads Drive and spans 861,252 square feet. Built in 2014, the facility features a clear height of 32 feet and is fully leased to three tenants.
The Cincinnati-area facility spans 678,363 square feet. The fully leased building was constructed in 2007 and offers a clear height of 32 feet along with parking for 246 cars.