Brown Commercial Group completed three industrial building sales totaling nearly 50,000 square feet in the Chicago market.
Partner Trinity Scurto represented Transmission Parts and Technology in the sale of its 33,393-square-foot building on 1.61 acres at 740 Green Street in Bensenville, Illinois to Prologis. The industrial REIT plans to redevelop the site along with a second adjacent property. Prologis also acquired eight acres of land nearby to combine with the property to create a larger development.
“The O’Hare submarket continues to attract development, due to its prime location and the long-term projections for tenant demand,” Scurto says. “This property provided the new owner with an excellent opportunity to expand its presence in this important distribution corridor.”
Thomas Rodero and Jonathan Kohn of Colliers International represented Prologis in the transaction.
Scurto also represented the seller, Sam Perricone, in the sale of a 11,000-square-foot building at 9207-9209 Ivanhoe in Schiller Park, Illinois to BIRE II LLC. The buyer, also represented by Scurto, was looking to expand its industrial portfolio in the Chicago area. The building is fully leased.
In the third transaction, Tierra Distilling, a brandy and wine maker, acquired a new building at 211 Burlington Avenue in Clarendon Hills, Illinois. Scurto represented the buyer in the purchase of the 5,500-square-foot building, which will be renovated into a new headquarters, tap room and distillery. Matt Scales of @properties represented the building’s seller, a private investor.