This Week s Chicago Deal Sheet (April 4, 2021) bisnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bisnow.com Daily Mail and Mail on Sunday newspapers.
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1151 East Laraway Road in Joliet with Clarion Partners CEO David Gilbert and Exeter Property Group CEO Ward Fitzgerald (Google Maps)
Exeter Property Group picked up a 730,000-square-foot distribution center in Joliet, adding to the investment firm’s extensive industrial portfolio in the Chicago area.
Exeter acquired Laraway Distribution Center from Clarion Partners for roughly $45 million. Colliers International’s Jeff Devine and Steve Disse represented the seller, and announced the deal. Built in 2008, the Class A Laraway warehouse is located at 1151 East Laraway Road. It encompasses 34 acres and is fully leased to three tenants.
Distribution centers have been a hot commodity during the pandemic as e-commerce sales have surged. Companies like Amazon and others have leased and acquired last-mile facilities and other industrial properties statewide and across the country.