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Brown Commercial Negotiates Sale of Downers Grove Industrial
Brown Commercial Group negotiated a 74,146-square-foot industrial building sale in the Chicago suburban market. Mike Antonelli and Trinity Scurto, both partners with the firm, represented the seller, Premium Investment Properties, Inc. in the transaction at 5200-5220 Thatcher Rd. in Downers Grove, IL.
“The seller purchased the property a few years ago with the intent of completing a strategic improvement program to enhance its value in the market,” said Antonelli. “With the work completed, we tested the market to determine the level of interest for the asset. Given the robust demand for industrial assets we were able to secure a buyer at a purchase price that reflected that enhanced value.”
Antonelli also represented the buyer, Beco Management, Inc., which is expanding its industrial portfolio in Illinois with this acquisition. The building is partially leased and the new owner plans to secure new tenants to bring it to full occupancy.
- ◦Sale/Acquisition
