Sumit Roy Of Realty Income Acquires Industrial Property From Douglas Kiersey Jr. For $175M

The transaction involves an industrial asset located at 2775 Sanders Road in Glenview, IL, with a sale price of $175,000,000. This property is a part of the former 232-acre Allstate headquarters campus and is undergoing transformation into a logistics hub, expected to consist of 3.2 million square feet as Dermody Properties continues its phased warehouse buildout and asset sales.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $175,000,000
• Buyer: Sumit Roy - Realty Income
• Seller: Douglas Kiersey Jr. - Dermody Properties
• Market: Glenview, IL
• Asset Type: Industrial

Dermody Properties is actively selling portions of the property as part of its broader industrial redevelopment plan. The site, originally acquired for $232 million in 2022, is experiencing mixed leasing momentum as it progresses with the logistics hub development.