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Cabot Properties sells 11-property North Central industrial portfolio
The 2.5 million square foot portfolio, spanning Greater Chicago and Minneapolis, was 97% occupied and 100% leased, with CBRE Capital Markets representing Cabot in the deal.
Cabot Properties has announced the sale of its North Central Portfolio, an industrial property collection totaling approximately 2.5 million square feet across Greater Chicago and Minneapolis, Minnesota.
The portfolio includes 11 modern industrial buildings, with Cabot saying six properties are in the North/Central Kane County and West Suburbs submarkets of the Chicago area, totaling about 1.6 million square feet, including four cross-dock facilities and two rear-load properties. The buildings were listed as 97% occupied by tenants across logistics and distribution uses.
The remaining five buildings cover about one million square feet across Minneapolis’ Northwest and Southwest submarkets and are described as 100% leased to distribution and light manufacturing occupiers.
CBRE Capital Markets represented Cabot in the transaction, and the buyer was described only as a prominent global asset manager.