Industrial N Illinois

NKF negotiates the sale of newly completed, 186,000 SF Industrial Spec Facility in Bartlett

NKF negotiates the sale of newly 186,000 SF Industrial Spec Facility,ph1

Newmark Knight Frank (NKF) arranged an industrial spec building sale at 1365-1395 Brewster Creek Boulevard in Bartlett, Illinois. Senior managing director Adam Marshall, SIOR, CCIM represented the seller and developer, Ridge Development, and senior managing director Elise Couston, SIOR, along with director Mark Deady, represented the contract purchaser, Barings Real Estate, acting on behalf of an institutional investor.

Ridge Development recently completed construction of the 186,000-square-foot building, located in Brewster Creek Business Park. Now ready for occupancy, NKF has also been appointed by Barings as the exclusive leasing agent and property manager for the vacant facility.

“1365-1395 Brewster Creek Boulevard is the second property that we have acquired in the Brewster Creek Business Park, following the successful lease up of our first investment,” said Michael Zammitti, head of U.S. real estate equity for Barings. “With its excellent location in the highly demanded north DuPage submarket of Chicago and state-of-the-art construction, we anticipate this property will benefit from the strong leasing environment in the near term.”

The new, state-of-the-art industrial facility features proximity to Interstates 90 and 390, as well as O’Hare International Airport, 32-foot clear ceiling heights, 50-foot by 50-foot column spacing, Ductilcrete floors, an ESFR sprinkler system, 35 exterior docks, two grade-level doors and parking for 224 cars (expandable). The property also offers dedicated, off-building trailer parking.

“We are thrilled to have represented Ridge Development and Barings in this transaction,” said Marshall. “Ridge did a fantastic job developing this modern industrial facility and coupled with its great location and being the newest industrial building in the low-vacancy north DuPage submarket, made for an attractive opportunity for Barings. Now available for lease as a single or multi-tenant facility, 1365-1395 Brewster Creek Boulevard is an ideal location for light manufacturing, food processing, and warehouse-distribution users looking for modern, highly functional space to suit their needs.”