Brown brokers one sale, four leases
ELK GROVE VILLAGE -- Brown Commercial Group brokered one building sale and four leases in suburbs, totaling 25,036 square feet of industrial space.
Brown Commercial Group Broker Brian Lindgren represented both the seller. MF II LLC, and the buyer, Component Management Group LLC, in the sale of a 10,052-square-foot building at 365 Production Drive in South Elgin. The investment sale included a building that is fully leased.
Lindgren also represented new tenant Ray Tool and Engineering in its lease of 5,200 square feet at 2541 Technology Drive, Suite 409, in Elgin. The building owner was represented by Arthur J. Rogers & Co.'s Chris Zannis.
Brown Commercial Group Broker Matt Hanson worked on behalf of tenant Proline Foods to triple its space by moving to a 4,165-square-foot building at 762 Birginal Drive in Bensenville. The dry food distributor outgrew its 1,300-square-foot unit in Bensenville after about a year. The tenant was also looking for a more efficient space with a dock for distribution. Brown Commercial Group Partner Mike Antonelli represented the building owner, a private investor.
IGLO LLC leased 3,267 square feet at 2285 Devon Ave. in Elk Grove Village. Hanson represented the tenant and McLennan Commercial Properties' James Conrad represented the landlord.
International Leak Detection LLC leased a 2,352-square-foot office suite for a five-year term at 2060 Algonquin Road in Schaumburg. Brown Commercial Group Senior Broker Mason Hezner represented the tenant and Marc Realty's Larry Meyer represented the building owner.
Each of the new leases was to a business that is expanding.
"Market dynamics, including strong demand for industrial space, is pushing tenants farther out from the urban core or causing them to try to find creative solutions for their space needs," said Dan Brown, principal and president of Brown Commercial Group. "We're seeing a lot of activity in buildings outside of Cook County and west of O'Hare Airport."