The Missner Group recently acquired two industrial properties totaling 68,000 square feet in St. Charles and Carol Stream.
Located at 2530 Production Drive in St. Charles, the first property is a 40,000-square-foot masonry industrial property featuring 3,300 square feet of office space. The building also includes 18’6″ clear heights, three docks and one drive-in door. The property is 35 miles west of downtown Chicago in the Fox Valley submarket, which has seen improving vacancy rates throughout the past year.
“Due to our close relationship with Brian Kling of Colliers International, this opportunity and deal structure were presented to The Missner Group,” said President Barry Missner. “While the property was marketed as a vacant building, Colliers presented us with a deal structure that included a long-term lease with Alps Wire Rope Corp. The resulting acquisition complements our portfolio and represents our commitment to providing our clientele with diverse investment opportunities.”
In Carol Stream, The Missner Group acquired a 27,880-square-foot masonry industrial property located at 640 Kimberly Drive. The property features 3,000 square feet of office space, one dock, three drive-in doors and 18-foot clear heights. The property was previously owned by Illinois Central School Bus, which is now leasing back the facility from The Missner Group. Colliers International presented the sale-lease back opportunity to The Missner Group.
Barry Missner and Edward Adler, senior vice president of The Missner Group, led the acquisitions for the firm.