Industrial N Illinois

Conor Commercial, Globe Corp JV sells Elgin industrial building for $30M

Conor Commercial, Globe Corp JV sells Elgin industrial building for $30M,ph1

Conor Commercial Real Estate, along with joint venture partner Globe Corporation, has closed a $29.85-million sale transaction to Cabot Properties for Northwest Pointe II. The 385,372-square-foot industrial building is located on a 22-acre parcel near the intersection of Galvin and Higgins Roads within the Northwest Corporate Park in Elgin, Illinois.

“We are pleased to announce the sale of Northwest Pointe II,” said Brian P. Quigley, executive vice president of Conor Commercial Real Estate. “This sale is consistent with Conor’s strategy to develop, lease and then sell Class A industrial buildings.”

John Huguenard and Ed Halaburt of JLL teamed with Ken Franzese and John Cassidy of Lee and Associates to represent Conor in the sale. Box Partners, a national wholesaler of packaging, shipping and industrial supplies based in Elgin, occupies 100 percent of the build-to-suit property’s space.

McShane Construction Company and Ware Malcomb Architects served as the design/build team for the construction of Northwest Pointe II. The development was the second phase in Conor Commercial’s Northwest Corporate Park following the development, lease and sale of the 342,620-square-foot Northwest Pointe I building. Conor Commercial is in the planning stage of developing the third project in the Park, Northwest Pointe III, scheduled to start construction in the Spring of 2019.