Jones Lang LaSalle Inc.
07/30/2024 | Press release | Distributed by Public on 07/30/2024 10:47
Sale and acquisition financing secured for Northwest Indiana Logistics Portfolio
CHICAGO, July 30, 2024 - JLL Capital Markets announced today that it secured the sale and acquisition financing for Northwest Indiana Logistics Portfolio, two multi-tenant industrial facilities located in Portage, Indiana.
JLL represented the confidential seller in the sale to Sperry Equities. Additionally, acting on behalf of the new owner, JLL arranged five-year, fixed-rate loan through New York Life Real Estate Investors.
The portfolio includes two distribution centers built in the early 2000s, boasting a 97% occupancy rate with eight tenants. Building 1, located at 6525 Daniel Burnham Dr., spans 122,829 square feet and offers features such as 25-foot clear heights, 13 dock-high doors and six drive-in doors. Building 2, situated at 6750 Daniel Burnham Dr., encompasses 517,000 square feet with 30-foot clear heights, 60 dock-high doors and four drive-in doors.
Strategically positioned in the Northwest Indiana industrial submarket of the Chicago MSA, the portfolio occupies AmeriPlex at the Port, a 385-acre industrial park that provides tenants with a business park environment and exceptional connectivity. The prime location offers proximity to four interstates (I-80, 90, 94 and 65) and access to a deeply installed blue-collar labor force.
The JLL Investment Sales and Advisory team was led by Industrial Co-Leader and Senior Managing Director John Huguenard alongside Managing Directors Ed Halaburt and Kurt Sarbaugh. The JLL Debt Advisory team was led by Senior Director Brian Walsh.
"We are proud to have arranged the sale and financing for The Northwest Indiana Logistics Portfolio, which presented an excellent opportunity to acquire a functional, multi-tenant industrial property situated in a highly accessible business park environment," said Halaburt.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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SPERRY offers the highest level of leasing, investment sales, property management and investment commercial real estate services available through a thoughtful, cooperative, and ethical practice. Founded by CEO Rand Sperry, the firm is headquartered in Irvine, California. Created for qualified experienced brokerage offices and teams, this value-based model allows the Affiliate to achieve national brand presence and collaborate with a network of Affiliates to compete with other national brands. For more information, visit sperrycga.com.