Avison Young negotiated the sale of a 1.75-million-square-foot trucking terminal portfolio with properties in core logistics markets across the United States. The portfolio is owned by CenterPoint Properties and includes approximately 53 truck terminals in key industrial markets, including Chicago and Dallas, as well as in Atlanta, New Jersey, New York, Philadelphia and elsewhere. Avison Young principals Erik Foster and Mike Wilson, head of the firm’s industrial capital markets group, represented CenterPoint Properties, based in Oak Brook, Illinois, in the sale to institutional investors advised by J.P. Morgan Asset Management. “This portfolio is an integral part of the logistics infrastructure that supports e-commerce growth on a national level,” said Foster. “This expansive trucking property portfolio allows the new owner to supplement its existing industrial investment platform and further position its funds for strong long-term growth.” The portfolio has a strong geographic diversification, with many properties located in growing population centers with access to the nation’s top rail, port and airport distribution hubs. Most properties are single-tenant properties, leased to top tier logistics tenants, including FedEx, UPS, YRC Inc., Amazon, XPO Logistics and SAIA Motor Freight Line. Approximately 60 percent of the portfolio’s square footage is in the Northeast (New York, New Jersey, Philadelphia and other cities), with the Midwest having nearly 20 percent of properties (Chicago, Milwaukee, South Bend, Indianapolis, Columbus, Cleveland and others). The portfolio includes three Illinois properties, all in the Chicago market, including 11201 Irving Park Road in Franklin Park, Illinois, a 28,808-square-foot building leased to UPS; 2300 Landmeier Road in Elk Grove Village, Illinois, a 19,120-square-foot building and 720 Greenleaf Avenue in Elk Grove Village, a 7,090-square-foot building. Truck terminals operate as a supply chain management tool that allows companies to sort and re-organize incoming freight and facilitate the rapid and high-volume handling and movement of goods to their final destination. A retailer utilizes these facilities to decrease delivery times to keep their competitive advantage and turn over product at a higher velocity.