Coldwell Banker Commercial McGuire Mears & Associates has closed the sale of a multi-tenant industrial property located at 1555 IL Rte. 75 E. in Freeport, IL. The industrial facility includes 488,000 square feet spanning six land parcels totaling approximately 55 acres. Although the final sale price wasn’t disclosed, the property was listed at $7 million.
Adam Shultz of Coldwell Banker Commercial McGuire Mears & Associates was the exclusive broker for the seller, an affiliate of Badger Property Investments, LLC, a Janesville, WI-based regional development firm. The buyer was an affiliate of Phoenix Investors, LLC, a national private commercial real estate firm headquartered in Milwaukee.
The property was under contract within weeks and closed on an expeditious timeline that worked well for both buyer and seller, said Shultz. The industrial building, which is approximately 70 years old, features 26-foot clearance, 30 exterior docks and 10 drive-in-doors.
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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!