June 17, 2020
Entre Commercial Realty completed a multi-faceted sale transaction of an 82,000-square-foot industrial and office building at 1700 Kiefer Dr. in Zion, IL. The purchase price wasn’t disclosed.
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 leaseback 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, which will move into a portion of the facility.
The remainder of the building will be subdivided into three additional units offering tenant spaces ranging from 8,000 up to 40,000 square feet.
Entre’s Dan Benassi, Dan Jones and Sam Deihs were the sole brokers in the transaction. Entre has also been retained to manage and lease the property going forward.
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