NKF Capital Markets has successfully orchestrated the sale of 440 S. McLean Boulevard in Elgin, IL to Plymouth Industrial REIT, Inc. Senior managing director Adam Marshall, SIOR, CCIM and managing director Boris Shraybman oversaw the transaction of the 74,613-square-foot asset on behalf of the seller, a private ownership group. Bryan Bartlett, senior vice president and principal of Newmark Grubb Phoenix Realty Group, represented Plymouth in the acquisition.
The building is situated within a well-established industrial enclave on the southwest quadrant of the McLean Boulevard and Route 20 interchange, less than four miles south of I-90 and within 30-minutes of Chicago O’Hare International Airport. 440 S. McLean is 100 percent occupied by Advance Engineering Corporation (AEC), which has occupied the building since 2006. In business for over 75 years, AEC is a recognized national leader in providing the natural gas industry market with fabricated meter sets and piping.
“As a mission-critical, 100 percent net leased industrial facility in the heart of Elgin, 440 S. McLean represented a premier investment opportunity,” said Marshall. “Furthermore, the asset’s long-term viability is solidified by the combination of access to major transportation linkages and access to Elgin’s deep, diverse labor pool.”
Plymouth is a full-service real estate investment company structured as a vertically integrated, self-administrated and self-managed real estate investment trust. The REIT focuses on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.
