Entre assists in sale, lease of Cary properties
CARY - Entre Commercial Realty assisted Midwest Industrial Funds in the sale of a 76,421 square foot building located at 640 Industrial Drive in Cary, and the leasing of 25,000 square feet of newly renovated space at 680 Industrial Drive.
MIF is one of the leading industrial investment, development, asset management, and advisory companies in the greater Chicago area. Terms of both transactions were not disclosed.
Illinois Lift Equipment, a national equipment dealer providing quality forklifts and scissor lifts, has purchased the 76,421 square foot industrial facility on 5.9 acres at 640 Industrial Drive for their relocation from West Chicago. They were attracted to the property because it provided over two acres of paved outdoor storage area, exposure on Northwest Highway and the opportunity for a custom office build out within a newly refurbished facility.
MIF sold the building after completing extensive upgrades including the demolition of over 20,000 square feet of a two-story office space, demolition of over 20,000 square feet of warehouse mezzanine, modernization of the truck docks, roof repairs, upgraded lighting, landscaping, parking lot replacement and facade remodeling.
Arlington Heights-based Entre's Dan Jones, Mike DeSerto and Cory Kay represented MIF in both their original acquisition of the property and the sale to Illinois Lift. Steve Morken of Morken Associates represented the buyer in the transaction.
Witt Management Group signed a long-term lease on 25,000 square feet of space at 680 Industrial Drive. Witt Management Group is a third party provider of warehousing, order fulfillment and distribution in the northern Chicago area. Witt Management Group has nearly doubled in size due to an increase in overall client demand/activity and have relocated from Crystal Lake.
Entre's Cory Kay and Mike DeSerto represented the Landlord, MIF, and the tenant was self-represented in this transaction.