In a market still characterized by strong demand, Chicago’s small to mid-sized industrial businesses are still forging ahead with plans for growth. Against this backdrop, Brown Commercial Group negotiated an industrial building acquisition in Chicago’s DuPage submarket.
Zenger’s Inc., represented by Broker Pat Crowley, has acquired a 13,369-square-foot industrial facility located at 775 Kimberly Drive in Carol Stream, Illinois. The building is located in the heart of the DuPage County growth corridor. The transaction reflects the growing trend among industrial businesses seeking to expand their operations.
Zenger’s Inc. specializes in providing industrial equipment, metalworking tooling, and safety/PPE products. Their clientele includes small to large manufacturers, federal, state, and local municipalities, as well as commercial construction companies. Broker Pat Crowley expressed enthusiasm for this strategic move, stating, “This building offers an excellent opportunity for Zenger’s Inc. to modernize its operational footprint, tailor its space to its specific requirements, and chart an exciting growth trajectory for 2024.”
Relocating its headquarters from Melrose Park, Illinois, to Carol Stream, is in line with Zenger’s Inc. plans to modernize, prioritize business efficiencies, enhance its operational capabilities, ultimately positioning the company for sustained growth.
Carol Stream is situated in the North DuPage industrial submarket, known for its expansive industrial infrastructure, connectivity to key transportation routes, and a property tax structure that is among the most favorable in the county.
According to recent CoStar research, the North DuPage industrial submarket has a 3.6% vacancy rate, making it a draw for logistics and specialized industrial businesses. Logistics space accounts for 34.4 million square feet in the county as is the dominant subtype, followed by specialized industrial space (7.2 million square feet) and flex space (950,000 square feet). Notably, industrial rents in this submarket have surged by 8.4% over the past 12 months and 26.1% over the past three years. Current rents average approximately $9 per square foot, slightly more cost-effective than the broader Chicago market, where rents average around $9.30 per square foot.
The seller in this transaction was effectively represented by Broker Justin Lerner of Transwestern Real Estate Services.
