January 15, 2019
Podolsky Circle CORFAC International represented the buyer in the sale and financing of 300 Millennium Dr. a fully-leased industrial property in Crystal Lake, IL. The 92,453-square-foot, single-tenant asset traded for $8,050,000.
The firm’s Alissa Adler, John Homsher, Paul Tesdal and Steven Podolsky represented buyer MR Michigan LLC in the transaction. The Podolsky Circle team also secured financing of approximately 75% loan-to-value from a local bank on behalf of the client.
300 Millennium is currently 100% occupied by National Gift Card (NGC), an automated gift card provider and fulfillment company. The property was expanded from approximately 53,000 square feet last year to accommodate NGC’s growth.
“This was an excellent investment opportunity for our client, given 300 Millennium’s desirable location and its 100% occupancy,” said Tesdal. “The property’s long-term tenancy with NGC, and the firm’s recent expansion at the property, further solidified it as a great fit for the buyer’s portfolio.”
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