Cabot Properties Completes Disposition of 2.5 Million SF Industrial Portfolio in Greater Chicago and Minneapolis
CHICAGO – July 29, 2026 – Cabot Properties, a global investor, developer, and operator of logistics properties, today announced the successful disposition of the North Central Portfolio, a collection of 11 modern industrial properties totaling approximately 2.5 million square feet across key industrial submarkets in Greater Chicago and Minneapolis, Minnesota. The diversified portfolio, which includes assets both developed and acquired by Cabot, was purchased by a prominent global asset manager.
“Our team executed a targeted marketing and bidding process to identify a strong institutional buyer during a challenging time for bulk industrial transactions in the broader market,” said Carey Herrlinger, Managing Director, Investments for the Western/Central Regions at Cabot Properties. “Chicago and Minneapolis are strategically important industrial markets in the Midwest, supported by strong regional infrastructure, diversified labor pools and favorable population trends. I am grateful for the diligence, expertise, and day-to-day support of the entire Cabot team that contributed to a favorable transaction process.”
Six of the properties are located in the North/Central Kane County and West Suburbs submarkets of the Greater Chicago area and include four cross-dock facilities and two rear-load properties, totaling approximately 1.6 million square feet. The facilities have an average vintage of 2019, and feature modern industrial specifications, including 32-foot clear heights, ESFR sprinkler systems, 130-to-185-foot truck court depths, and efficient loading configurations. The buildings are 97% occupied by a variety of tenants across various logistics and distribution uses. The North and Central Kane County industrial submarkets continue to benefit from strong fundamentals and tenant demand, with the North Kane vacancy rate at 5%, and the Central Kane vacancy rate at 6.6%, as of Q1 2026, per CoStar. The West Suburbs submarket of Chicago has continued to outperform the broader market with a vacancy rate of 2.7% as of Q1 2026, per CoStar.
The additional five buildings comprise approximately one million square feet across Minneapolis’ Northwest and Southwest submarkets. The rear-load facilities have an average vintage of 2014, and feature modern industrial specifications, including 32-foot clear heights, ESFR sprinkler systems, and 130-to-155-foot truck court depths. The properties are 100% leased to a variety of distribution and light manufacturing occupiers. The Minneapolis market benefits from healthy industrial fundamentals, with a vacancy rate of 5.2% in the Northwest submarket, and a 6.8% vacancy rate for the Southwest submarket as of Q1 2026, per CoStar.
The Chicago-based CBRE Capital Markets team represented Cabot in the transactions.
About Cabot Properties Inc.
Cabot Properties is an international private equity real estate firm focused on the logistics sector. Founded in 1986, Cabot was one of the first real estate firms to provide institutional investors with access to the industrial property sector and has invested over $19 billion in logistics real estate, served over 4,400 tenants, and operated over 1,778 buildings totaling more than 240 million square feet. Cabot is headquartered in Boston with offices in Atlanta, Chicago, Dallas, Los Angeles, London, Amsterdam, Sydney, Tokyo, Munich, Houston, New York, Orlando, and New Jersey. For more information, visit www.cabotprop.com.
Media Contact:
ICR on behalf of Cabot Properties
CabotPR@icrinc.com