Industrial N Illinois

Lee & Associates negotiates industrial sale in Meridian Business Campus

Lee & Associates negotiates industrial sale in Meridian Business Campus,ph1

Lee & Associates of Illinois has closed on the sale a 60,636-square-foot industrial building located at 801 N. Commerce Street in Aurora, Illinois. The facility is located in premier Meridian Business Campus which is known for its beautiful landscaping, abundant trees, walking paths, ponds and Rte. 59 Metra Commuter Rail Stop.

Nick Eboli, senior vice president, and Andrew Block, associate, of Lee & Associates’ Illinois office, represented the seller, a local investment group. Eric Galanti and Bill Main of CBIZ Gibraltar Real Estate Services represented the buyer, a global manufacturer.

“Demand for industrial property in I-88 continues to remain strong. Vacancy rates over the past two quarters have remained slightly under 5 percent in I-88,” said Eboli. “Developers are bullish in I-88 as there is over 1.5 million square feet of speculative development existing or under construction in the submarket.”