Elgin property on McLean Boulevard sold

NKF Capital Markets has orchestrated the sale of 440 S. McLean Boulevard in Elgin to Plymouth Industrial REIT Inc.

Senior Managing Director Adam Marshall and Managing Director Boris Shraybman, oversaw the transaction of the 74,613-square-foot property on behalf of the seller, a private ownership group. Bryan Bartlett, senior vice president and principal of Newmark Grubb Phoenix Realty Group, represented Plymouth in the acquisition.

440 S. McLean is situated within an industrial enclave located on the southwest quadrant of the four-way interchange at South McLean Boulevard and Route 20. 440 S. McLean is 100 percent occupied by Advance Engineering Corp., which has occupied the building since 2006. In business for over 75 years, AEC is a recognized national leader in providing the natural gas industry market with fabricated meter sets and piping.

"As a mission-critical, 100 percent net leased industrial facility in the heart of Elgin, 440 S. McLean represented a premier investment opportunity," said Marshall. "Furthermore, the asset's long-term viability is solidified by the combination of access to major transportation linkages and access to Elgin's deep, diverse labor pool."

Plymouth is a full-service real estate investment company structured as a vertically integrated, self-administrated and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.