Avison Young Arranges Sale of Chicago Manufacturing Facility
Avison Young has announced the sale of a 145,182-square-foot industrial manufacturing facility located at 11264 S. Corliss Avenue in Chicago, Illinois.
The property is fully leased to Polyair, a long-term tenant that has occupied the facility for more than 29 years. Polyair recently committed to the location with a new 10-year lease. The Avison Young team representing the seller — a private partnership — included Capital Markets Principals Erik Foster and Mike Wilson, Industrial Leasing Principals Brian Colson and Brian Pomorski, and Senior Vice President Jack Reardon. The buyer was Venture One.
Strategically located with immediate access to Interstate 94 and surrounded by a robust labor pool, the property offers significant logistical advantages. “Polyair, a multi-billion-dollar credit tenant, has occupied the facility since 1996 and has invested extensively in the asset as it is a mission-critical facility and an integral part of its national platform,” said Foster. “This opportunity provides the new ownership with a stable, cash-flowing investment with committed tenancy and an ideal logistical location in the heart of the country.”
This transaction underscores continued investor demand for well-located industrial assets with strong, long-term tenants.
