Penny Pritzker And Maury R. Tognarelli Acquire Industrial Property In Shorewood And Romeoville For $146M

The property involved in the transaction is located at 21530-21540 Southwest Frontage Road & 1401-1465 Normantown Road in Shorewood & Romeoville, IL. It comprises an industrial asset with a total square footage of 1,474,180. The transaction was valued at $146,000,000, with a price per square foot of $99.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $146,000,000
• Square Footage: 1,474,180
• Address: 21530-21540 Southwest Frontage Road & 1401-1465 Normantown Road
• Market: Shorewood & Romeoville, IL
• Buyer: Penny Pritzker - PSP Partners; Maury R. Tognarelli - Logistics Property Co.
• Seller: David Gilbert - Clarion Partners; Robert Smietana - HSA Commercial; Maury R. Tognarelli - Heitman Capital Management
• Price per Square Foot: $99

Penny Pritzker represented PSP Partners in the acquisition of the 757,880-square-foot Heartland Corporate Center in Shorewood for $88 million. Maury R. Tognarelli, representing Logistics Property Company, completed the purchase of a 716,300-square-foot Romeoville distribution center leased to Kimberly-Clark for $58 million. Together, these transactions exceeded a total of $146 million within Will County.