Lee & Associates has closed on the sale of a 94,490-square-foot manufacturing building located at 2050 Mitchell Boulevard in Northwest suburban Schaumburg, Illinois. Constructed in 1988 and located adjacent to Schaumburg Regional Airport, 2050 Mitchell Boulevard is a free-standing industrial manufacturing building on a 10.8-acre site with room to grow.
Terry Grapenthin, Michael Plumb, and Ryan Earley, all principals at Lee & Associates’ Illinois office, represented the seller. Nick Krejci and Noel Liston of Core Industrial Realty represented the buyer.
“The property is a well-maintained facility with 4.5 acres of expansion land. Given the very limited supply for solid assets to purchase in today’s environment, within a few months, we were able to secure a favorable deal with back-end flexibility for our client,” said Grapenthin. “Given they are both manufacturing companies, the operational similarities between the buyer and seller made this building and its infrastructure an ideal fit.”