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Highlights
Irvine, California-based LBA Logistics purchased a 109,000-square-foot industrial building in Schaumburg from New York-based developer Thor Equities for $21.4 million.
Thor Equities had bought an older building on the site for $3.9 million in 2022, redeveloping it into a speculative property.
The sale may have provided a solid return for Thor Equities, despite a slowdown in industrial spec development in the Chicago area, with the property's proximity to O’Hare International Airport and downtown Chicago being a key advantage.