Newmark Knight Frank (NKF) recently arranged the sale of 133 N. Swift Road in Addison, Illinois. NKF senior managing director Corey Chase and associate David Stremler represented the seller, a private investor, in the transaction. Bridge Development Partners purchased the facility for an undisclosed amount.
While the sale of 133 N. Swift Road was underway, Chase completed a long-term, 87,640-square-foot lease renewal, keeping the property at full occupancy. The lease was signed by Associated Material Handling Industries, Inc., a supply chain solutions firm and distributor of lifting equipment. Chase represented Associated in the transaction, who also received a tenant improvement package from the new ownership.
“We are thrilled to have been a part of this transaction at 133 N. Swift Road,” said Chase. “Having Associated renew its lease while the building was under contract was ideal for both parties. Not only was the asset one of the few quality buildings available in the area, but it also offers an excellent location off of I-355, making it a very attractive opportunity for the buyer. It was a win for all parties involved.”
A 4.65-acre site built in 2008, 133 N. Swift Road consists of 62,640 square feet of warehouse space with 29-foot ceiling height and 25,000 square feet of office space. The facility features ESFR sprinklers, two training rooms, three interior docks, one drive-in door, 128 parking spaces, as well as signage opportunity with immediate visibility from I-355.
