Brown Commercial Group partner, Mike Antonelli, recently represented a private investor in the sale of 12 W. Interstate Road in Addison, Illinois. Maaco Collision and Repair is expanding into a new market with their purchase of the 20,604-square-foot industrial building, represented by Ken Peach of Coldwell Banker Commercial.
The building was constructed in the 1950s and required a significant amount of capital improvements and updating. The building had been on the market for more than a year with another firm before Antonelli was awarded the listing assignment. Following an intensive repositioning and marketing program, Antonelli was successful in securing the new buyer for the property.
“Older buildings that need capital improvements require a unique and individualized marketing approach,” said Antonelli. “By understanding market demand and how to reposition an asset for its best use, a broker can help bring out the asset’s true value.”
Antonelli also represented the seller, a family trust, in the sale of 19 W. Industrial Road, a 1.53-acre site and one of the last remaining vacant industrial-zoned land parcels in Addison. The buyer, a private investor, was represented by Charles Rutenberg Realty and plans to construct a small office and trailer repair facility on the site.