HSA COMMERCIAL REAL ESTATE named exclusive leasing agent for four centerpoint properties' industrial facilities
March 24, 2005
(Chicago – March 24, 2005) Jack Shaffer, chairman, has announced that HSA Commercial Real Estate has been named the exclusive leasing agent for four CenterPoint Properties' industrial facilities, totaling over 900,000 square feet. The four properties were part of a $96 million portfolio acquired by CenterPoint Properties from HSA-affiliated partnerships and HSA's industrial brokerage division was retained to do the leasing efforts.
The portfolio was acquired by CenterPoint in January of 2005 and consists of about 10% of total HSA and affiliated partners' inventory. The proceeds from this sale will be leveraged as part of the company's ongoing strategy to opportunistically acquire and develop commercial real estate. The four properties are:
w North Chicago Business Park, located at 30120 Skokie Highway in North Chicago, Illinois. This 394,070-square foot warehouse/distribution facility was jointly developed by HSA and Bridge Development Partners. Tim Thompson, SIOR, executive vice president and managing director of industrial brokerage, and Doug Reed, senior vice president, will continue to serve as the exclusive leasing agents.
w 468-472 Brighton Drive, Bloomingdale, Illinois. Located in the prestigious Covington Corporate Center, this property was originally developed by HSA in 1989 and is 120,822-square feet in size. Thompson and Paul Broderick, associate, will market the 56,344-square feet now available.
w O'Hare East Business Center, 3708 N. River Road, Franklin Park, Illinois. Another HSA developed property, this facility is 325,000-square feet in size. Approximately 134,000-square feet is available and the marketing assignment will be handled by Thompson, Reed and Broderick.
w 1645 Downs Drive, West Chicago, Illinois. This 130,813-square foot industrial property is located on 6.1 acres of land. Thompson and Reed will market the remaining 73,875-square feet of space.
HSA's industrial brokerage division has established a reputation for procuring the best value for its clients and many of its industrial assignments come from previously satisfied customers. HSA is also ranked in the top 20 national industrial property owners and industrial developers by National Real Estate Investor magazine.
Celebrating more than 24 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 6,500 transactions in over 30 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 18 million square feet.
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