Jeffrey Miller, senior managing director in Newmark Grubb Knight Frank’s Chicago office recently arranged the purchase of 500 36th St. in East Moline, Illinois, on behalf of an undisclosed buyer, a regional repeat client of NGKF. The acquisition of the Quad Cities-area manufacturing facility is valued at more than $5 million.
500 36th Street is a 95,000-square-foot manufacturing facility comprising of 87,320 square feet of warehouse space, along with 7,680 square feet of office space. The property features eight dock doors, two drive-in doors and 16′ ceilings. The facility is 100 percent leased to JMF Company, a wholly subsidiary of Zheijiang Hailiang Co., LTD. Miller and attorney Ben Yeggy of Gomez May LLP represented the buyer in the acquisition, and Chris Wilkins of NAI Ruhl Commercial Company and attorney Dick Davidson of Lane & Waterman LLP represented the seller, Bears in Bettendorf, L.C.