Cabot Properties, a global investor, developer, and operator of logistics properties, today announced the successful disposition of the North Central Portfolio, a collection of 11 modern industrial properties totaling approximately 2.5 million square feet across key industrial submarkets in Greater Chicago and Minneapolis, Minnesota.
The diversified portfolio, which includes assets both developed and acquired by Cabot, was purchased by a prominent global asset manager. The Chicago-based CBRE Capital Markets team represented Cabot in the transactions.
Six of the properties are located in the North/Central Kane County and West Suburbs submarkets of the Greater Chicago area and include four cross-dock facilities and two rear-load properties, totaling approximately 1.6 million square feet. The buildings are 97% occupied by a variety of tenants across various logistics and distribution uses.
The additional five buildings comprise approximately one million square feet across Minneapolis’ Northwest and Southwest submarkets. The properties are 100% leased to a variety of distribution and light manufacturing occupiers.
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