The Illinois office of Lee & Associates has closed on the $2 million sale of a 319,589-square-foot industrial park in Michigan City, Ind. Lee & Associates of Illinois represented the seller, XMH Corp. 1 (formerly known as Hartmarx Corporation), in the transaction.
Brian Vanosky, John Sharpe and Justin Fierz, principals out of Lee Illinois in Chicago represented XMH Corp. 1, which sold the asset located at 5000 S. Ohio St.
Liliana Ake of Exit 1 Realty represented the purchaser, Buyer Select Development Corporation, a local manufacturer.
The property consists of two buildings measuring 169,589 square feet and 150,000 square feet, built in 1970 and 1984, respectively. Approximately 62,000 square feet of office space is included.
“This transaction means a lot to Michigan City. To have a building this size purchased by a local manufacturer,” said Kevin Keift of the Michigan City Economic Development Corporation in a release. “We had three parties that were interested in the property. Two of them wanted to break it up. But Select Development Corporation, an affiliate of Fas-Pak, Inc., will be utilizing the entire complex, and that makes it especially special. This means a lot to the local economy and we’re thrilled.”