Colliers International | Chicago’s Chris Volkert, principal, and Brendan Green, senior vice president, represented GHP Group, Inc. in its acquisition of a 225,006-square-foot warehouse located at 1501 Nicholas Boulevard in Elk Grove Village.
“Demand in the O’Hare market continues to be exceptionally strong,” said Volkert. “GHP Group was drawn to the central location and immediate access to both the airport and interchange.”
GHP Group is a manufacturing company specializing in electric fireplaces, fireplace glass doors, fireplace accessories, electric log sets, personal heating products and gas grills. According to Colliers | Chicago’s industrial research and forecast report, the O’Hare vacancy rate ended 2017 at 3.18 percent, the lowest vacancy rate recorded in the submarket’s history.
The seller, Prologis, was represented by Chris Nelson, Ken Franzese and John Cassidy from Lee & Associates.
