Brown Commercial Group has negotiated a 31,059-square-foot industrial warehouse acquisition at 1001 Fargo Ave. in Elk Grove Village, IL. Partner Trinity Scurto represented Truck Tire Express in doubling its headquarters space with a move to the O’Hare submarket location.
Scurto worked with Truck Tire Express for a year to identify and evaluate suburban industrial sites that were close to major transportation corridors and could meet the company’s need for expansive parking. The company repairs and replaces truck tires for over the road trucks and is experiencing significant growth due to the expansion of trucking from e-commerce and logistics related activity.
“Chicago’s O’Hare submarket is seeing record industrial demand and a shortage of space right now, particularly for trucking related uses,” Scurto said. “We have not seen demand this high in the O’Hare market since before the 2008-09 recession. Pricing has increased as well, reflecting the lack of supply and low interest rates.”
The company is moving from Addison, IL and wanted to remain in DuPage County, but suitable sites were not available.
Scurto also assisted Truck Tire Express in securing a Class 6B incentive from the county due to repairs needed on the property.