Entre Commercial Realty negotiated the sale of 1450 Feehanville Drive, a 112,290-square-foot facility on 5.6 acres of land in Mount Prospect, Illinois’, Kensington Business Center.
The well-maintained property features 24’ ceilings and is located in the northern O’Hare industrial submarket. The property was acquired by joint venture affiliate of Nicholas & Associates and Parenti & Raffaelli who jointly intend to occupy a portion of the facility and the remainder will be leased to third party tenants.
Nicholas & Associates is a full-service construction management and development company specializing in public projects, private sector work and multi-family / mixed-use developments primarily in Illinois, Wisconsin and Florida. Parenti & Raffaelli is a nationally recognized custom woodworking company specializing in custom finished millwork. The property will allow both companies to satisfy their expansion needs.
Extensive renovations are planned to convert it to a multi-tenant facility by adding a new entrance façade, new office area and new truck docks. Additional improvements include new landscaping, lighting, parking improvements, etc.
Entre’s Dan Benassi, SIOR, Dan Jones, SIOR and Sam Deihs represented the purchaser while CBRE’s Mike Sedjo and Jack Brennan represented the seller in the transaction.
