LBA Logistics Acquires Niles Industrial Center From Kamal Bhatia For $55.5M

The property involved in the transaction is the Niles Industrial Center, located at 6420 West Howard Street in the Niles market. This industrial asset spans 21 acres and features a total square footage of 413,112. The sale was finalized at a price of $55,500,000, translating to a price per square foot of $134. The two-building park was constructed in 2004 and is situated near O'Hare. It currently houses tenants such as TwinMed, SCP Distributors, and Vitrychenko Academy.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $55,500,000
• Address: 6420 West Howard Street
• Market: Niles
• Asset Size: 21 acres
• Square Footage: 413,112
• Price per Square Foot: $134
• Buyer: LBA Logistics
• Seller: Kamal Bhatia - Principal Asset Management

LBA Logistics has acquired the Niles Industrial Center from Principal Real Estate Investors, with Kamal Bhatia acting as the seller and representative of his firm, Principal Asset Management. The acquisition highlights a significant transaction well above the local market average, indicating the strategic value of the asset and its tenant composition.