Missner Group acquires Morton Grove warehouse

DES PLAINES - The Missner Group recently acquired a 152,000 square foot industrial warehouse at 8338 Austin Ave. in Morton Grove.

Terms of the acquisition were not announced.

The Missner Group purchased the facility based on its location and viability in the marketplace. The property is comprised of approximately 76,000 square feet of office space and 76,000 square feet of warehouse/manufacturing space. Located at Austin Avenue within a few miles of I-94, the building sits on 7.3 acres and features 16' clear heights, five exterior docks and one drive-in door. The property is currently 100% leased by two tenants: Schwarz Supply Source and Integrated Merchandising Systems, LLC.

"We are pleased to add this high-quality, well-positioned asset to our company's portfolio," said The Missner Group's Chief Executive Officer, Barry Missner. "We were drawn to the property's location as well as the large lot size, which is atypical for industrial properties in the area and lends itself as an excellent redevelopment site."

Mr. Missner and Ed Adler, senior vice president of The Missner Group led the acquisition for the firm. Eric Sorenson and Dirk Riekse of Cushman and Wakefield represented The Missner Group in the purchase of the property. The Cushman and Wakefield team also represented the building's seller.