High Street Realty nabs big industrial portfolio for $86M

High Street Realty Company has acquired a massive industrial portfolio with 11 properties spread across the Chicago suburbs.

Boston-based High Street paid $86 million for the porfolio, which totals more than 1 million square feet. The properties are 86 percent leased, according to Bisnow, which reported on the sale. JLL brokered the deal.

John Hancock Life Insurance Company was the seller, according to the Cook County database.

Seven of the buildings in Lake County are fully leased: 801, 901 and 1001 Technology Way in Libertyville and 900, 909,1000 Asbury Drive and 911 Commerce Court in Buffalo Grove. An eighth, 1001 Asbury Drive in Buffalo Grove, will be available July 31.

Also part of the deal are 101 Corporate Center in Lemont, 755 Remington Boulevard in Bolingbrook and 2050 Hammond Drive in Schaumburg.

High Street already owned 823,000 square feet of industrial properties in Elgin, Aurora, Batavia, Elk Grove Village and Romeoville.

Nationwide, industrial REITs posted a 15.5 percent return over the past year, according to a recent report by SNL Financial. [Bisnow]  — John O’Brien