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

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SOLD
$175,000,000
SR
Douglas Kiersey Jr.

Illinois

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Industrial
Sold 06/01/2026
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Property Image
SOLD

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

2775 Sanders Road

See Similar Deals
Industrial
Sold 06/01/2026
SR
Douglas Kiersey Jr.
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Transaction Type:Sale

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:

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.

Players

SR
Sumit Roy
7 deals$2.7B volume
BUYER
Douglas Kiersey Jr.
Dermody Properties
Douglas Kiersey Jr.
7 deals$335M volume
SELLER

Details

SOLD
IMAGE: Douglas Kiersey Jr. & Sumit Roy DATE: 06/01/2026 ADDRESS: 2775 Sanders Road MARKET: Glenview, IL ASSET TYPE: Industrial BUYER: Sumit Roy - Realty Income (@RealtyIncome) SELLER: Douglas Kiersey Jr. (@PuffDougy) - Dermody Properties SALE PRICE: $175,000,000 NOTE: Dermody Properties has begun selling portions of the former 232-acre Allstate headquarters campus at 2775 Sanders Road in Glenview, offloading parcels to Realty Income for $175 million as part of its broader industrial redevelopment plan. The site, originally acquired for $232 million in 2022 and being converted into a 3.2 million-square-foot logistics hub, has seen mixed leasing momentum as it continues phased warehouse buildout and asset sales.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$9,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$621,738.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$829,589.28
Annual Debt Service$9,955,071.37