Podolsky Circle Represents Ameritus in the Sale of 136,533 SF Des Plaines Industrial Facility

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Podolsky Circle Represents Ameritus in the Sale of 136,533 SF Des Plaines Industrial Facility

Podolsky Circle CORFAC International is pleased to announce the sale of 1221-1311 Rand Road (Rand Center) in Des Plaines, Illinois, a four-building, 136,533 square foot industrial/flex warehouse complex, on behalf of Ameritus Real Estate Investment.

The Podolsky Circle Middle Market Investment Advisory Team comprised of Managing Principal Alissa Adler, Principal John Homsher, CCIM, and Senior Vice President Paul Tesdal represented the seller, Ameritus Real Estate Investment, in the $6,200,000 transaction. Additionally, Podolsky Circle provided debt placement services to the purchaser, Clear Height Properties.

“This was an excellent investment opportunity for the buyer given Rand Center’s desirable location, its flexible unit sizes, stable cash flow, future rent growth and lack of other comparable new construction in the area,” said Adler. “The transaction also allowed our client to focus solely on its office portfolio strategy.”

Rand Center is currently 94.5 percent occupied by 43 tenants ranging in size from 1,306 to 7,879 square feet. The complex is ideally located in the highly-preferred O’Hare Industrial Submarket and benefits from its proximity to several of Chicagoland’s major roadways.  Ameritus Real Estate Investment completed several capital improvements to the complex in 2017 including new exterior lighting, parking lot renovation, directional signage as well as new landscaping.