Chicago & Midwest + Greater Chicagoland + Industrial | May 15, 2023

Marcus & Millichap closed the sale of a single-tenant industrial property located in Mokena, IL and fully occupied by Colony Hardware

Single-Tenant Industrial Finds New Owner in Chicago’s Southwest Suburbs

Marcus & Millichap closed the sale of a 39,816-square-foot, single-tenant industrial property located in Mokena, IL, a southwest suburb of Chicago. The asset sold for $4.1 million.

Brent Holder and Peter Doughty, investment specialists in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, a private investor. The buyer wasn’t disclosed.

The building was constructed in 2006 and offers high functionality with a 28’clear height, seven drive in doors, and one dock. At the time of sale, the property was fully occupied by Colony Hardware, a national provider of tools, equipment, supplies, products and rental/repair services to commercial construction and industrial industries throughout the United States.

Colony Hardware acquired the previous tenant, Elf. Co, in 2019, and utilizes the property as one of its 57 locations across the country.

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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 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).

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