As Chicago food industry businesses look for industrial space for expansion, some are facing intense competition and a shortage of suitable locations. One recent example is specialty foods distributor Krishiv Foods, which missed out on a few opportunities to expand its space in 2023 due to the strong demand for space in some submarkets. The company recently found a new location in the western suburbs.
Brown Commercial Group represented the growing distributor of Indian food products in more than tripling its space with the purchase of a 31,379-square-foot building at 310-330 W. Charles Court in West Chicago, Illinois.
This transaction was an off-market opportunity sourced through Brown Commercial Group’s client network. Partner, Mike Antonelli, represented the seller, Spare Tire Enterprises, LLC, who originally purchased the building from Antonelli in an off-market sale in 2018. Given the significant increase in industrial building values since 2018, the seller realized a 55% increase in value.
Hanson represented the buyer, which will be moving from a 9,000-square-foot space in Elk Grove Village, Illinois.
