Dermody Properties Sells 496,260 SF
Dermody Properties is pleased to announce the sale of 21751 Jason Rasmussen Drive in Sauk Village, Illinois to VHE II-Sauk, LLC (VHE). The company will occupy the entire 496,260 square-foot, rail-served, 30-foot clear building for its third party logistics business.
“This transaction is strategically beneficial for both Dermody Properties and for VHE,” said Brian Quigley, partner for Dermody Properties’ Midwest Region Office. “The residents of Sauk Village will also benefit greatly from the transaction through an investment from VHE, which will keep its business and a significant number of jobs in Sauk Village.”
The project was developed by Dermody Properties in LogistiCenter at Sauk Village, a business park that currently boasts 150 acres of land that is fully improved and ready for immediate development.
“The sale of this building to an end user is consistent with Dermody Properties’ strategy of recycling capital into development opportunities from which we expect to realize higher returns on equity,” said Douglas A. Kiersey, Jr., president of Dermody Properties.
Jerry Sullivan, of Paine Wetzel, and Todd Collins, of Macadam Forbes, represented VHE in the transaction. Brian Vanosky, Scott Anderson and Justin Fierz, of Lee and Associates of Illinois, represented Dermody Properties.