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Key Points
Transwestern Development Company sold a new 255,000-square-foot distribution center in West Dundee, a Chicago suburb, to JFC International, an Asian food wholesaler, for $33.5 million.
Despite earlier fears of oversupply, the Chicago industrial market is showing strong demand, with a 1 million-square-foot absorption rate in the second quarter, indicating leasing activity is outpacing vacancies.
The region continues to see major activity, including Bridge Industrial's $150 million plan to demolish Ford City Mall and replace it with a logistics complex, and Houston-based Hines' purchase of a distribution center in Bolingbrook for $29.5 million.