Avison Young announced the sale of a 145,182-square-foot industrial manufacturing facility located at 11264 S Corliss Avenue in Chicago, Illinois.
The property is fully occupied by Polyair who has been at the facility for more than 29 years and recently signed a new 10-year lease. Avison Young Capital Markets Principals Erik Foster and Mike Wilson along with Industrial Leasing Principals Brian Colson and Brian Pomorski, and Senior Vice President Jack Reardon represented the seller, a private partnership. The buyer was Venture One.
The property’s infill location provides immediate access to Interstate 94 and a dense labor force. “Polyair, a multi-billion-dollar credit tenant, has occupied the facility since 1996 and has invested extensive capital in the asset as it is a mission-critical facility and an integral part of its national platform,” said Foster. “This opportunity provides the new ownership with a stable, cash-flowing investment with committed tenancy and an ideal logistical location in the heart of the country.”
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