CORFAC News

FOR ADDITIONAL INFORMATION:
Matt Paul - 847-444-5748
Michael Millar - 312-644-7211

Riverwoods, IL (July 10, 2013) - Podolsky|Circle CORFAC International has announced the completion of the sale of an investment portfolio totaling 1,006,960 square feet.  Steven H. Podolsky, SIOR and Corey B. Chase, both Principals with Podolsky|Circle, represented the purchaser, a Boston-based real estate investment company, in the transaction. The portfolio consisted of eight industrial buildings all located in Belvidere, IL. 

At the time of sale, the buildings were 94% occupied. The seller, The LandMark Group, is one of the largest privately held commercial real estate development companies in the Midwest.  The company offers comprehensive services ranging from site acquisition and land development to architectural design, construction, and project financing.

“This transaction was made possible due to the overall tenant mix and creditworthiness, as well as the quality of the real estate,” stated Chase. Podolsky added, “The buildings ranged in size from 70,000 to 250,000 sq. ft. and were all modern buildings with 28’ to 30’ clear ceilings and ESFR sprinkler systems.  This portfolio represents the majority of the newer modern industrial buildings in the Belvidere area.”

In assisting with this transaction, Podolsky|Circle worked with John Folvig, CFA, a partner at LandMark since 2000. The LandMark Group was self represented in the transaction.

About Podolsky|Circle CORFAC International
The firm provides brokerage, tenant representation, acquisition, disposition, sale/leaseback, investment, build-to-suit development, property and facility management, and consulting services for industrial, office, retail and investment properties. Its management portfolio includes more than three million square feet property, primarily in the Midwest. www.podolsky.com

About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services.  In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged over 9600 completed transactions annually totaling more than 513 million square feet worth an excess of $5.95 billion for their customers. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.