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California State Teachers’ Retirement System Acquires Weber55 Logistics Park In Romeoville For $114M

Property Image
SOLD
$114,000,000
CL
TN

Illinois

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Industrial1,800,000 SF
Sold 10/12/2023
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Property Image
SOLD

California State Teachers’ Retirement System Acquires Weber55 Logistics Park In Romeoville For $114M

21 Weber Road & 121 Weber Road

See Similar Deals
Industrial1,800,000 SF
Sold 10/12/2023
CL
TN
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$63
Total Square Footage:1,800,000 SF
Transaction Type:Sale

The Weber55 Logistics Park in Romeoville, Chicago has been sold for $114 million. The buyer, The California State Teachers' Retirement System (CalSTRS), acquired the property from Molto Properties. This industrial asset spans over 55 acres and includes two buildings, totaling approximately 900,000 square feet of space.

Summary of transaction details:

  • Property Type: Industrial
  • Sale Price: $114,000,000
  • Square Footage: 900,000
  • Address: 21 & 121 North Weber Road
  • Market: Romeoville

The California State Teachers' Retirement System (CalSTRS) was represented by Cassandra Lichnock in the deal, while Todd Naccarato acted as the representative for Molto Properties. This transaction highlights the continuous demand for industrial real estate, despite the current uncertainties and oversupply in the market.

Players

CL
Cassandra Lichnock
4 deals$616.1M volume
BUYER
TN
Todd Naccarato
5 deals$114M volume
SELLER

Details

SOLD
IMAGE: Cassandra Lichnock DATE: 10/12/2023 ADDRESS: 21 & 121 North Weber Road MARKET: Romeoville ASSET TYPE: Industrial ~ ACRES: 55 BUYER: The California State Teachers’ Retirement System (@CalSTRS) - Cassandra Lichnock (@CLichnock) SELLER: Molto Properties - Todd Naccarato SALE PRICE: $114,000,000 SF: 900,000 ~ PPSF: $127 NOTE: California State Teachers’ Retirement System (CalSTRS) purchased the Weber55 Logistics Park in Romeoville, Chicago, for $114 million from Molto Properties. The massive property includes two buildings with around 900,000 square feet of space on a 55-acre site, demonstrating the ongoing demand for industrial real estate amid broader market uncertainties and oversupply.

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