January 3, 2019
Midwest Industrial Funds recently purchased a 218,064-square-foot manufacturing and distribution building on 20 acres in McHenry, IL. The building was developed as a manufacturing and distribution facility for Motorola, and was vacant at the time of acquisition.
Colliers International’s Suzanne Serino represented the undisclosed seller.
“The property is in a high-end business park and is as modern and functional as it gets in McHenry County,” said Midwest Industrial’s Jed Degnan. “We started negotiating on this property back in the late spring, but we were having a hard time getting to the seller’s price point.
“Suzanne did a terrific job finding a lease prospect in Disk.com to lease a portion of the building,” he continued. “That was a big key to help us bridge the gap and get to the seller’s price point, while still making the risk/reward economics work on our end.” Serino is also marketing the property’s remaining space.
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