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LBA Logistics has purchased Principal Real Estate Investors’ 413,112-square-foot Niles Industrial Center in metro Chicago for $55.5 million, according to CommercialEdge information. The asset previously traded for $21.4 million two decades ago.

The building came online in 2004 on nearly 21 acres at 6420 W. Howard St., roughly 16 miles northwest of downtown Chicago. Thoroughfares such as Interstate 94 and U.S. Route 14 run within less than 3 miles, while the Chicago O’Hare International Airport operates some 9 miles away.

Niles Industrial Center comprises two buildings encompassing 210,458 and 202,654 square feet. The park features clear heights reaching 28 feet throughout each building, as well as a total of five grade-level doors and 52 docks.