NelsonHill has been named the exclusive agent for the disposition of a multi-tenant industrial portfolio consisting of three buildings totaling more than 653,190 square feet. The properties are located in Broadview and Melrose Park and are owned by Joe Reina.
“The portfolio offers a unique opportunity for an investor to enter the West Cook submarket, which continues to enjoy positive net absorption, coupled with no new construction for the third consecutive year,” said Mark Nelson, principal at NelsonHill.
Located at 2600 S. 25th Ave. in Broadview, the first property is a 389,155-square-foot multi-tenant facility that is currently occupied by 23 tenants making it 99 percent leased. The building was built in 1966 for General Motors and renovated in 2000 and again in 2010.
At 1930 George St. in Melrose Park, the second building is 179,300 square feet and sits on almost six acres of land. Built in 1963 and renovated in 2010, the property has seven tenants and is 99 percent leased.
The third in the portfolio is an 84,735-square-foot complex at 5109 W. Lake St. in Melrose Park. The warehouse and office building is occupied by six tenants and is 82 percent leased. Situated on a three-acre land site, the facility was built in 2003 and has a 6B tax Incentive.
Mark and Mike Nelson and Frank Melchert of NelsonHill are the exclusive listing brokers for the portfolio.