This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Informa

Four Self-Storage Facilities in Chicago Sold to N.Y. Company for $11M

Comments
Print

Australian-based Babcock & Brown sold four of its self-storage facilities in metropolitan Chicago to New York-based W. P. Carey & Co. LLC for $11.8 million. MJ Partners Self Storage Group brokered the sale.

The portfolio consists of 227,665 square feet of rentable self-storage space, 2,230 storage units, and 36,854 square feet of industrial warehouse space. The portfolio was 71% occupied at the time of the sale. Extra Space Storage will maintain third-party management of the properties.

“The portfolio generated bids from 14 different parties nationwide, demonstrating renewed interest in the market for income-producing commercial properties,” said Marc Boorstein, principal with MJ Partners.

Three of the properties are located in close proximity to Chicago’s Midway Airport. The fourth property is in Lincolnshire, Ill.

Comments
comments powered by Disqus