Lee & Associates of Illinois sells 94,490-square-foot industrial building in Schaumburg

Lee & Associates, one of the largest national commercial real estate providers in North America, has closed on the sale of a 94,490-square-foot manufacturing building at 2050 Mitchell Boulevard in Schaumburg.

Terry Grapenthin, Michael Plumb and Ryan Earley, all principals at Lee & Associates' Illinois office, represented the seller. The sale transaction closed Nov. 6.

Constructed in 1988 and located adjacent to Schaumburg Regional Airport, it's a free-standing industrial manufacturing building on a 10.8-acre site with room to grow.

"The property is a well-maintained facility with 4.5 acres of expansion land," Grapenthin said. "Given the very limited supply for solid assets to purchase in today's environment, within a few months we were able to secure a favorable deal with back-end flexibility for our client. Given they are both manufacturing companies, the operational similarities between the buyer and seller made this building and its infrastructure an ideal fit."

Nick Krejci and Noel Liston of Core Industrial Realty represented the buyer in this transaction.