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Chicago & Midwest  + Greater Chicagoland  + Industrial  | 

NAI Hiffman Brokers Deal for Itasca Warehouse Duo

The industrial capital markets team at NAI Hiffman brokered the $13.25-million sale of 1500 Bryn Mawr Ave. and 1251 Ardmore Ave., two light manufacturing and warehouse facilities in Itasca, IL., The properties total 108,357 square feet and are currently occupied by Phoenix Converting Inc., a leading producer of specialty pouches for flexible packaging.

NAI Hiffman EVP Patrick J. Sullivan and VP Ryan Chambers, together with Jeff Janda, principal of Lee & Associates, represented the seller, Oak Brook, IL-based TradeLane Properties LLC. The buyer was a national industrial REIT.

“The acquisition gave the buyer the opportunity to acquire two fully occupied assets in the incredibly tight industrial submarket of Itasca, with a vacancy factor of 6.1%,” said Sullivan. “Although e-commerce players continue to dominate the industrial market, there is still appetite for smaller, well-located facilities for light manufacturing and warehouse uses.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Sale/Acquisition
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