Transwestern brokered the acquisition of a 24,620-square-foot flex building at 350 – 370 Lexington Drive in Buffalo Grove, Illinois.
A private investor bought the 10-unit, fully leased building from FSGB LLC for $2.7 million, representing a 9 percent cap rate.
Located 0.5 miles north of Lake Cook Road near Interstates 294 and 94, the recently renovated building is fully leased to eight companies occupying between 2,000 and 6,000 square feet. All tenants have at least two years remaining on their leases.
Transwestern Senior Director Adam Schneiderman represented the undisclosed buyer in the transaction. The seller was represented by Schwab Realty & Development.