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Plymouth Industrial’s Chicago shopping spree lands 1M sf of new properties
The REIT’s latest purchase of 7 industrial properties boosts its total square footage by about 40%
Across the Midwest, Plymouth Industrial REIT went on a Labor Day weekend shopping spree.
In all, the firm spent $90 million on 2.2 million square feet of industrial properties in Chicago, Cincinnati, Columbus, Ohio, and Memphis, Tennessee.
In Chicago, the REIT paid $32.25 million on seven industrial buildings in Cook County, the company announced. That brings the firm’s total holdings to 20 industrial properties and more than 3.5 million square feet in the Chicago market alone, according to its website.
That Chicago purchase bought 1.1 million square feet across properties ranging from 52,000 to 455,000 square feet. Boston-based Plymouth will be the new landlord to 15 Chicago tenants, according to the release.
The industrial market continues to be a growing one across the country and particularly in Chicago. This year, activity has surged, especially among older properties like the ones Plymouth just acquired in the portfolio.