Brown Commercial Group negotiates building sales

ADDISON - Mike Antonelli, a partner in Brown Commercial Group Inc., represented a private investor in selling a 17,735-square-foot industrial building at 1395 Jeffrey Dr. in Addison. Helander Metal Spinning Co., which owns several industrial facilities in the area, acquired the building to expand the company's manufacturing operations, said Antonelli, who also represented the buyer. Financial terms of the sale were not disclosed.

The sale was the culmination of a yearlong strategy to secure, reposition and maximize the value of a two-building industrial portfolio totaling 37,735 square feet, the Brown Commercial Group said. Antonelli worked alongside Dan Brown, president of Brown Commercial Group, on behalf of a private investment group that acquired 1395 and 1401 Jeffrey Drive early last year.

The buyer invested significant capital to reposition the buildings to capitalize on the strong industrial demand in Chicago. Given the level of demand and lack of available inventory for sale, Antonelli was successful in securing buyers for each building prior to the commencement of construction.

Antonelli represented Omega Sign and Lighting Inc. last fall in its acquisition of 1401 Jeffrey Drive, a 20,000-square-foot building that will be used as the company's new headquarters.

"These two transactions are another testament to the strength of today's industrial market, which has seen significant growth in leasing and investment activity," Antonelli said. "In less than 12 months we were able to reposition these two buildings for sale at a value 45% higher than the investor's original acquisition price."

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