Brown Commercial Group completes nearly 70,000 square feet of industrial transactions in Chicago areaebizuniverse
Article sourced from REJournals.
Brown Commercial Group recently brokered five transactions totaling nearly 70,000 square feet in Chicago’s northwest and western suburban markets.
This included the sale of a 30,500-square-foot property at 1125 Lunt Ave. in Elk Grove Village. The buyer, Gorilla Paper, purchased the property, as part of a major expansion of its distribution capability. The new space is four times the size of the former facility and will serve as the firm’s new distribution headquarters.
Brown Commercial vice president of sales, Mike Antonelli, completed all five transactions. Eric Fischer of Avison Young represented the seller in the 1125 Lunt Ave. transaction.
Other transactions included the sale of a 15,600-square-foot building at 231-237 Factory Rd. in Addison, Illinois. The building, a four-unit multi-tenant property, was sold to a private investor, who is planning extensive renovations for the building, with future plans to expand their manufacturing business there. Antonelli represented the seller, a family trust, and Dan Brown, president of Brown Commercial Group, represented the buyer.
In addition, Northstar Metal Products Inc. is leasing 12,000 square feet of space at 550 Windy Point Dr. in Glendale Heights, Illinois, in addition to their Glendale Heights headquarters for storage and additional product assembly. Jeff Locascio of Transwestern represented Northstar Metal in the transaction, and Antonelli represented the owner.
Stuever and Son’s Inc., a leading provider of installation, remodeling and upgrading draft beer systems, has leased 11,497 square feet of space at 330 W. Fay Ave. in Addison to accommodate the growth of their business. Antonelli advised ownership throughout the process of converting the single-user building into a two-unit facility. Stuever and Son’s will occupy half and Air Gas will continue their tenancy in the adjacent portion.
Also in Addison, a one half acre land site at 50 W. Factory Rd. was purchased by a private investor who plans to construct a warehouse for their business in 2017. This land site is one of the few remaining in the Addison Industrial Park. Antonelli represented both the buyer and the seller.