Plymouth Industrial REIT, Inc. Sells Chicago Industrial Building For $19.9M

Plymouth Industrial REIT, Inc. has recently sold a 306,552-square-foot industrial building located at 6510 West 73rd Street in Chicago. The property was sold for $19.9 million to an undisclosed owner-user. This transaction marks a significant milestone for Plymouth Industrial REIT, Inc. as they continue to pursue their development program and reduce their debt.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $19,900,000
• Square Footage: 306,552
• Price per Square Foot: $65
• Address: 6510 West 73rd Street, Chicago
• Market: Chicago

Plymouth Industrial REIT, Inc.'s CEO, Jeff Witherell, stated that the net proceeds of $13.9 million from this sale will be used to pay down debt and support their ongoing development program. The buyer's identity has not been disclosed, but this sale represents a strategic move for Plymouth Industrial REIT, Inc. in their efforts to optimize their property portfolio and strengthen their financial position.