Newmark Knight Frank (NKF) has successfully closed two industrial investment sales totaling approximately 75,000 square feet in the Chicagoland area.
In the first transaction, senior managing director Adam Marshall, SIOR, CCIM, along with managing director Boris Shraybman of NKF’s Chicago capital markets team, arranged the sale of 1275 Karl Court in Wauconda, Illinois, a 56,579-square-foot, high cube distribution facility. NKF represented the seller, a private investor, in the sale.
The facility, which sold to One Liberty Properties for an undisclosed amount, was sold 100 percent net leased. Before marketing 1275 Karl Court for sale, NKF represented the owner in arranging the full-building lease to ECHO Incorporated, a developer and manufacturer of professional grade handheld outdoor power equipment. Nick Walby of Entre Commercial Realty LLC represented ECHO Incorporated in the lease negotiations.
“Having 1275 Karl Court fully leased to ECHO Incorporated provided investors with the opportunity to acquire a high cube distribution facility that is 100 percent net leased by strong credit tenancy,” said Marshall.
Marshall and Shraybman also facilitated the sale of 561-575 S. Arthur Avenue in Arlington Heights, Illinois, on behalf of a private owner. The 18,557-square-foot, multi-tenant industrial facility was acquired by a private investor for an undisclosed amount. The facility was purchased 100 percent leased to multiple tenants, including Bosch Tools.
“We are pleased to have represented the seller in this transaction,” Marshall said. “This property offered investors the opportunity to acquire a 100 percent leased, multi-tenant, light-industrial facility located within an infill submarket and anchored by a strong-credit tenant.”