Molto Properties has acquired 351 Hastings, a 68,735-square-foot industrial building in Buffalo Grove, IL. This is the first existing asset acquisition for its newly launched Molto Properties Fund II. JLL’s Kurt Sarbaugh and Robin Stolberg sourced the opportunity and approached Molto Properties with the transaction. A private investor was the seller.
“The acquisition of 351 Hastings is consistent with Molto Properties’ strategy of investing in well-located, functional buildings with the opportunity to add-value through active leasing and management, said Molto Senior Principal and Founder Todd Naccarato. “We also would like to recognize and thank Kurt and Robin who not only recognized the opportunity in the property but thought of how it would fit our portfolio.”
The property is conveniently located in the Chevy Chase Business Park north of Lake Cook Road and west of Milwaukee Avenue near the Chevy Chase Country Club. The industrial property features a 24-foot clear ceiling height, ample car parking, six exterior docks and five drive-in doors.
