Industrial N Illinois

Marcus & Millichap closes $3.6 million industrial sale in Effingham

Marcus & Millichap closes $3.6 million industrial sale in Effingham,ph01

Marcus & Millichap closed the sale of Nova Solutions Sale Leaseback, a 110,000-square-foot industrial property in Effingham, Illinois. The asset sold for $3.6 million, which was 95 percent of asking price, to an out-of-state 1031 exchange buyer.

Nikalos Beery, Forest Bender and Joseph DiSalvo, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Nova Solutions Sale Leaseback is located at 421 Industrial Ave. in Effingham. Steven Weinstock, regional manager and managing broker for the state of Illinois for Marcus & Millichap, assisted in closing this transaction.