Business

Avison Young sells Cary commercial building

Posted March 20, 2017 1:00 am

CARY - Avison Young announced completed the sale of a 61,000-square-foot industrial building at 165 Chicago St. in Cary.

Terms of the sale were not announced.

The building has been 100 percent leased to AMPAC since the property was constructed as a build-to-suit in 1985. AMPAC is a global manufacturer of creative and flexible packaging for pharmaceuticals, health and beauty products and retailers. The tenant, which has a long-term lease, has continually invested in the building to maintain its institutional-level features.

Avison Young Principals Erik Foster and Mike Wilson, both based in the company's Chicago office and members of the firm's national industrial capital markets group, represented the seller, Itasca-based ML Realty Partners. The property was purchased by Agracel, Inc., a regional industrial development firm based in Effingham.

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