Marcus & Millichap sells industrial flex building
June 30, 2010 | Staff Writer | Print Article | Email this Article
Marcus & Millichap Real Estate Investment Services has announced the sale of Willow Lake Tech Center, a multi-unit flex office/industrial property located in Schaumburg, Ill., according to John M. Przybyla, first vice president/regional manager of the firm’s Chicago Downtown office.
The asset commanded a sales price of $6.6 million. The investor obtained attractive new five-year financing on the asset.
John Abuja, vice president of investments and senior director of M&M’s National Office and Industrial Properties Group in Marcus & Millichap’s Chicago Downtown office, obtained the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was secured and represented by Nicholas Kinney, associate at Marcus & Millichap, and John Abuja.
Willow Lake Tech Center is located at 400 East State Parkway, less than three minutes from the Interstate-90 Exit via Roselle Road and less than five miles from the Interstate-290 interchange. The asset is just two blocks north of Golf Road, and is situated just minutes from the O’Hare Airport and Woodfield Mall.
“Well occupied, best-of-class office, industrial, and flex assets in the Schaumburg market continue to command attractive strike prices,” says Abuja. “I experienced a very high volume of showings and written offers on this asset, and others like it in the Schaumburg area and Martingale Corridor.”
Tags | Chicago, Marcus & Millichap, Office, sale
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