Cresa Managing Principal Ed Lowenbaum represented ConCan II, a related party to tenant Alliance Paper and Foodservice Equipment in the sale of its 58,000-square-foot industrial facility located at 11058 Addison in Franklin Park. Clear Height Properties acquired the property for an undisclosed price.
The multi-tenant building, located in the heart of the Franklin Park industrial complex, features 20-foot clear ceiling height, five docks and parking for 50 cars.
Alliance Paper has occupied the building since 2002 and signed a multi-year lease for approximately 55% of the building. The remainder of the facility will be vacant effective August 1.
Alliance Paper is a full-service distributor offering a wide range of foodservice supplies and disposables to restaurants, bars, bakeries, coffee shops, food processors, delis and supermarkets. The company will continue to use the site as a distribution hub for its Midwest customer base.