A Dallas-based investment firm paid about $34 million for five industrial buildings in a west suburban business park, in a deal that shows there’s still investor appetite for high-quality, well-leased properties.
Lincoln Property Co. bought the buildings, which are in Addison and are 80% leased, from a union pension fund. The bidding came down to three prospective buyers who all offered within $100,000 of each other, says Jim Carpenter, a senior director with Cushman & Wakefield Inc. who worked on the deal, representing the seller.
http://www.chicagobusiness.com/realestate/20090930/CRED03/200035639