Brown Commercial supports growing businesses with industrial sales

April 16, 2024 — Brown Commercial Group Broker Pat Crowley‘s efforts to help two growing businesses find industrial space was featured in this week’s Bisnow Chicago Deal Sheet. Crowley identified an off-market property at 1012-1030 Morse Ave. in Schaumburg, IL and represented the buyer and seller, both private investors, in the 12,000-square-foot transaction. The property was purchased as a value-add transaction that will allow the buyer to increase the property’s value over time by making renovations.

Additionally, Crowley worked with Aqualab Water Treatment, Inc. in buying an 8,000-square-foot industrial building at 2200 Foster Ave. in Wheeling, IL. He also represented the seller, a private family investment partnership. “Industrial businesses are facing many challenges finding space under 50,000 square feet in today’s market,” said Crowley. “Working through our network of suburban business owners, I was able to secure these spaces that will allow growing businesses to expand in the market.”

These transactions show an ongoing concern among many small to mid-sized businesses as they look for expansion space. The shortage of space under 50,000 square feet is due in part to a run-on space in recent years. Developers and investors have been buying older industrial buildings or assembling several lots and building larger, modern facility. Tenants are then displaced during the construction process and sometimes forced to move to outlying areas, said Crowley.