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Lee Illinois Brokers Industrial Sale in I-88 Corridor
Lee & Associates has closed on the sale of a 60,636-square-foot industrial building located at 801 N. Commerce St. in Aurora, IL, within Meridian Business Campus and the I-88 industrial submarket. Pricing was not disclosed.
Nick Eboli and Andrew Block of Lee & Associates’ Illinois office represented the seller, a local investment group. CBIZ Gibraltar Real Estate Services’ Eric Galanti and Bill Main advised the buyer, a global manufacturer.
“Demand for industrial property in I-88 continues to remain strong,” according to Eboli. “Vacancy rates over the past two quarters have remained slightly under 5% in I-88. Developers are bullish in I-88, as there is over 1.5 million square feet of speculative development existing or under construction in the submarket.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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