Business

Lee & Associates brokers $4.6 million sale in Wood Dale

Posted October 05, 2017 1:00 am

WOOD DALE - Lee & Associates has closed a $4.6 million transaction for a fully-leased, 57,005-square-foot industrial building at 712 N. Central Ave. in Wood Dale.

"This transaction and Cap Rate were indicative of the continued strong demand for stabilized industrial properties within a core submarket like O'Hare," said Mike Plumb, principal of Lee & Associates of Illinois. "It's nice to have been involved from start to finish with our client to not only add value by stabilizing the asset, but also sourcing the Buyer to complete what ended up being a short term hold and quick disposition for the client."

Plumb and Mike Androwich, both principals of Lee & Associates' Illinois office, represented the seller, RE Development Solutions, Inc. Kelly Disser and Michael Freitag of NAI Hiffman represented the buyer, Bobeck Real Estate Company, Inc.

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