Neil P. Doyle Of TradeLane Properties Acquires Industrial Facility From William R. Crooker For $30.1M

TradeLane Properties acquired an industrial facility located at 2001 Baseline Road in Montgomery, Illinois, for $30.1 million. The asset encompasses 584,000 square feet and is 49% leased. Built in 1974, the property features significant distribution infrastructure, including 55 docks and 30-foot clear heights.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $30,100,000
• Buyer: Neil P. Doyle - TradeLane Properties
• Seller: William R. Crooker - Stag Industrial
• Broker: Cushman & Wakefield
• Square Footage: 584,000
• Price Per Square Foot: $52
• Market: Montgomery

The transaction was brokered by Cushman & Wakefield, which managed the deal between TradeLane Properties and Stag Industrial. The acquisition aligns with TradeLane's strategy to enhance the asset's value through repositioning efforts in proximity to Chicago’s western industrial corridor.