November 4, 2019
NAI Hiffman arranged the sale of 7557-7575 S. 78th Ave., a 254,425-square-foot industrial building in southwest suburban Bridgeview, IL. Deal terms weren’t disclosed.
The firm’s Lawrence Much, Steve Connolly and Drew Bulson marketed the property on behalf of the owner, Heller Industrial Parks, and also procured the buyer, TradeLane Properties, an Oak Brook, IL-based private investment group. The new owner plans to immediately begin extensive renovations to modernize the building, and has secured NAI Hiffman as its leasing agent.
Heller was the original owner and designed the circa-1970 building to be evenly divided if needed, to accommodate two tenants.
“There is enormous investor interest in buildings such as this one that can serve as last-mile hubs for e-commerce, as consumer demand for shorter delivery times, including same-day service, continues to grow,” said Much. “The location also appeals to manufacturers and distributors for easy access to a large skilled-labor force.”
Connect Industrial 2019 is coming to Houston on Nov. 19. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny