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Property Reserve buys Northlake, Ill., industrial complex for $71M

Property Reserve Inc., a venture of The Church of Jesus Christ of Latter-day Saints, paid $70.6 million to acquire the Bridge Point industrial complex in Northlake, Ill., from Prudential Real Estate Investors, The Real Deal reported, citing Cook County records.

Home Depot Inc. and Frozen Assets Cold Storage are among the tenants at the 257,000-square-foot property at 555 Northwest Ave. The former signed a lease to operate a distribution facility at Bridge Point in 2018.