Brown Commercial Group completes two industrial sales totaling 56,600 square feetebizuniverse
Published at REJournals.
Brown Commercial Group brokered two industrial building sales in the Chicago suburban market, totaling 56,600 square feet. The sales totaled approximately $3.6 million.
These sales are a sign of continued strength in the Chicago suburban investment market and that financing for small to mid-sized assets has become easier to obtain.
“Chicago’s industrial market continues to draw investors who want strong tenancy and the stability that provides,” Dan Brown, president of Brown Commercial, said. “The key to success in today’s market is to understand what these entrepreneurial investors want and be able to complete the transactions quickly to meet their needs.”
The first transaction was the sale of 1155 Bowes Rd. in Elgin, Illinois to a private investor. The 34,400-square-foot building includes 12,000 square feet of office space. It’s used for training, sales, and to dispatch vehicles to respond to property restoration issues.
The building, fully leased to Response Team 1, a national restoration company based in Wheeling, was under contract within four days.
Brown Commercial Group’s Mason Hezner represented private investors in the sale, and Dan Brown represented the buyer, another private investor.
The second transaction was the sale of a 22,000-square-foot, 9-unit building at 1820 Production Dr. in St. Charles, Illinois.
Brown Commercial Group’s Brian Lindgren and Maria McNeil represented the sellers, private investors Alan and Beth Butters. The buyer, a private investor, was represented by Dan Brown.