Midwest Industrial Funds purchases vacant, 82,000-square-foot building
Midwest Industrial Funds Purchases Vacant, 82,000 Square-Foot Building
January 08, 2013 | Credit: Midwest Real Estate News
Midwest Industrial Funds recently purchased a vacant, 82,000-square-foot corporate headquarters, production and light industrial building located at 144 Tower Drive in Burr Ridge.
Scott Brandwein at CBRE led the brokerage team for the seller on the transaction, Precision Dynamics Corp. Brian Vanosky of Lee & Associates is the lead broker for Midwest Industrial Funds and is marketing the building for lease or sale. Midwest closed on the property four business days from contract execution and two weeks after its initial property inspection.
Midwest views the acquisition as an opportunity to purchase a quality building in an “A location” at an attractive basis. With the planned improvements and building upgrades scheduled, the new marketing team envisions securing a new tenant or user/buyer in 2013.
Midwest Industrial Funds is a Chicago area based real estate investment company that has acquired and developed more than 2.5 million square feet in the Chicago industrial market since 2001. Midwest Industrial Funds has been especially active the last 90 days of 2012 acquiring three industrial properties totaling 200,000 square feet.