Faropoint has announced the the purchase of a 44,175-square-foot building on 3.1 acres located at 700 High Grove Boulevard in Glendale Heights, IL. Joe Karmin, Justin Lerner, and Ross Lehrman of Transwestern represented Faropoint and the seller in the acquisition.
“Faropoint is excited to close on our first vacancy within the Chicago market. 700 High Grove is a high image building in the heart of Glendale heights that we believe has strong upside potential.” said Jordan Kovalsky who leads Faropoint’s Midwest operations.
“In today’s market, 700 High Grove is a unique, standalone facility with heavy power and parking that’s difficult to find in this submarket,” said Justin Lerner, Executive Vice President, Transwestern, “The seller was looking for a quick close with someone who wouldn’t play games and Faropoint was able to seal the deal efficiently. Faropoint was the right buyer at the right time.”
700 High Grove is a single tenant industrial property measuring approximately 43,545 SF. The project was built on 3.1 acres of land in 1990 and boasts 18’ clear heights. The building is in the North DuPage submarket, just outside of Chicago.