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Highlights
Real estate investment firm TPG Angelo Gordon sold a five-building Chicago-area industrial portfolio to Los Angeles-based Cannon Industrial for $70 million.
The transaction involves properties located in Chicago, Wheeling, and Broadview, with some units appearing to have sold for prices similar to their original acquisition costs in 2018 and 2019.
Despite the lack of a significant profit on this specific portfolio, the sale aligns with continued activity in Chicago's industrial sector, where regional vacancy rates have recently improved to 5.9 percent.