Brown Commercial Group negotiated two industrial sales transactions totaling 48,171 square feet in Chicago’s DuPage County submarket. The transactions illustrate the continued demand by investors for well-located buildings with modern features and strong leasing fundamentals.
The buildings are at 2211-2239 Curtiss St. in Downers Grove, Illinois (25,575-SF) and 330 W. Fay Ave. in Addison, Illinois (22,596-SF).
Brown Commercial Group Partner Mike Antonelli, SIOR, and Broker Matt Hanson represented the sellers in both transactions. Partner Trinity Scurto, SIOR, represented the buyers.
The team represented Bilmar Investments LLC in selling the Downers Grove building. The seller completed extensive renovations and a strategic leasing program over the past several years to increase occupancy.
Antonelli and Hanson represented 330 Fay, LLC in selling the Addison building to Absolute Electronics, which is expanding from a 7,200-square-foot space in Elk Grove Village, Illinois, to move into half of the Addison, Illinois, building. The other half of the building is leased to Air Gas, a long-term tenant in the building.
The seller was a tenant in that building and had exercised its option to purchase the building in 2019 in the middle of their lease term.