Amstar Group Acquires Two Industrial Warehouses From Prologis For $106.5 Million In Illinois

Two warehouses located at 1860 West Jefferson Avenue in Naperville and 1101 Taylor Road in Romeoville, Illinois, have been sold for a combined price of $106,500,000. The properties encompass a total of 1,370,000 square feet, translating to a price per square foot of $78. The Naperville property, leased to Crate & Barrel, was sold for $54.4 million, while the Romeoville site, which is leased to logistics company Geodis, sold for $52.1 million.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $106,500,000
• Buyer: Amstar Group
• Seller: Hamid Moghadam - Prologis
• Brokers: Adam Tyler & Michael Tenteris - Cushman & Wakefield
• Lender: HFI Global

The transaction was a strategic move by Prologis to divest non-strategic assets. The involvement of Cushman & Wakefield as brokers facilitated the deal, with Adam Tyler and Michael Tenteris representing the sellers during this transaction.