CenterPoint Properties Sells 1.34 M SF in Southeast Wisconsin
Posted By Staff Writers On July 8, 2014 @ 10:03 pm
OAK BROOK, IL – CenterPoint Properties announces the successful sales of two Southeast Wisconsin-Area portfolios totaling 1.34 M SF. The transaction consisted of a five-building and 12-building portfolio in South Milwaukee.
Erik Foster, Mike Wilson and Michelle Montanye of Avison Young represented CenterPoint in the 12-building sale to BK Equities. The facilities neighbor the General Mitchell International Airport and are within minutes of population centers and interstates, providing significant value to businesses with distribution needs. The portfolio comprised of buildings ranging in size from 124,400 SF to 230,400 SF.
Ben Adank and Paul McBride of RFP Commercial represented CenterPoint in the five-building sale to Zilber Property Group. These facilities are strategically located with direct access to the General Mitchell International Airport. The portfolio comprised of buildings ranging in size from 19,400 SF to 64,000 SF.
“The opportunity to realize substantial gains in a strategically located market drove our decision to advertise these portfolios for sale,” commented Jim Clewlow, chief investment officer of CenterPoint Properties. “We were able to identify two strong buyers who desire facilities near major transportation lanes in order to enhance their business supply chains.”
As a result of the dual-portfolio dispositions, CenterPoint’s total footprint in Wisconsin is approximately 9 M SF.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 45.5 million square feet and 6,400 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit www.centerpoint.com or follow @centerpointprop on Twitter.
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