Midwest Industrial Funds Completes Over 500,000 SF of Leases

Credit: RE Journals

August 28, 2020

1020 Olympic in Batavia, Illinois

Midwest Industrial Funds recently announced the long-term leasing of 86,000 square feet at 1020 Olympic, Batavia, Illinois to Second City Prints. The space features 24- to 28-foot ceilings, 12 docks, 8,000 square feet of renovated office and heavy power. The 125,000-square-foot building is now fully leased to two tenants.

MIF acquired the property vacant in 2019 from PPG Industries and subsequently renovated it including exterior façade enhancements, interior warehouse demo and painting as well as new roof and energy efficient HVAC system. Brendan Sheahan of Darwin Realty represented the tenant and Tom Curtis and John Moysey of Avison Young represented the landlord, Midwest Industrial Funds.

In separate and unrelated transactions, Midwest Industrial Funds also completed over 425,000 square feet of new leases and lease extensions since March within their growing, 100+ tenant portfolio in West Chicago, McHenry, Batavia, Elgin, Hodgkins and Naperville.

“We have completed over one million square feet of leases in the first eight months of 2020 and are very pleased with this level of activity,” said Michael J. Androwich, a principal with MIF. “It is great to see such a wide cross section of tenants still flourishing and making commitments to their business as well as our speculative developments and existing buildings given the challenges facing the economy since March.”

“Each and every lease deal continues to be different,” Androwich continued. “The one constant remains the speed, responsiveness and compressed occupancy timelines we are expected to deliver to our valued tenants and their brokers. We are grateful for the trust and relationships we have within the brokerage community to deliver on those expectations.”