Entre brokers sale of Zion building

ZION - Entre Commercial Realty recently completed the sale of an 82,000 square foot building at 1700 Kiefer Drive in Zion.

Terms of the sale were not announced.

As part of a multifaceted transaction, the building's previous tenant, Kiefer Associates, agreed to an early termination of a long-term lease on the entire building and entered into a short-term master lease-back for a smaller portion of the property. The property was then sold to an investment group which includes the principals of American Eagle Packaging Company (AEP); a regional full-service packaging company specializing in Vendor Managed inventory programs and Just In Time (JIT) delivery service.

American Eagle Packaging will move into a portion of the facility and utilize this location to serve its customers in far northern Illinois and Wisconsin. The remainder of the building will be subdivided into three additional units offering tenant spaces ranging from 8,000 square feet up to 40,000 square feet.

Entre's Dan Benassi, SIOR, Dan Jones, SIOR and Sam Deihs were the sole brokers in the transaction. Entre has also been retained to manage and lease the property going forward.