Brown Commercial Group brokers two industrial sales
Brown Commercial Group, based in Elk Grove Village, recently brokered two building sales totaling 65,710 square feet in the suburban market.
Dan Brown, owner and managing broker of Brown Commercial Group, represented the seller, Andrews Paperboard Inc. in a 32,000-square-foot industrial sale lease-back transaction at 1200 Pratt Blvd. in Elk Grove Village.
Jim Pietrarosso, a senior associate for Brown Commercial Group, represented the buyer, a private investor. Brown oversaw a forward-looking process that included evaluating the company's short and long-term real estate needs; forecasting the company's growth projections; and analyzing the value of its current holdings to determine the best course of action.
"Completing a sale lease-back transaction allows Andrews Paperboard to monetize its real estate position and generate capital to reinvest into the company," Brown said. "Ultimately that means an expansion of its operations with an eye to the future."
In the second transaction, Brown represented the seller of a 33,710-square-foot industrial building at 502 Morse Road in Schaumburg. Pietrarosso represented a private investor in purchasing the space. Financial terms were not disclosed.
Brown Commercial Group is a privately held commercial real estate company specializing in the leasing, sale and acquisition of industrial and office properties throughout the Chicago market. The firm also assists clients with land acquisition and new construction projects.