International Investment Group Picks Up Lockport Industrial
Marcus & Millichap arranged the sale of 900 N. State St., a 56,326-square-foot industrial property in Lockport, IL. Terms of the sale weren’t disclosed.
Associate Brent Holder and VP investments Peter Doughty in Marcus & Millichap’s Chicago Downtown office marketed the property on behalf of the seller, a local private investor who owned the property for over 20 years. The buyer was a private international investment group based out of Mexico.
The property sits on 7.48 acres with excess acreage for future development, and was first constructed in 1970 with multiple expansions since its original construction. The asset contains nine total units ranging in size from 600 to 33,000 square feet and is currently 83% occupied by a mix of eight tenants.
The property is anchored by Vitrek, LLC, an industry and world leader in data acquisitions solutions, which signed an early long-term renewal during the marketing process.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).