Brown’s Real Estate Transactions, Promotions
February 7, 2023 — Brown Commercial Group continues to make the news for its industrial and office real estate transactions as well as the accomplishments of its team. Bisnow featured two recent announcements in its Chicago Deal Sheets, which details the ins and outs of Chicago commercial real estate transactions and trends. The stories featured the promotions of Mason Hezner and Jim Pietrarosso as well as a 9,900-sf office transaction by Hezner.
Hezner also represented the seller, U.S. Wire & Cable Products LLC, in the disposition of a 27,038-square-foot industrial building at 350 Evergreen St. in Bensenville, IL, in the O’Hare submarket. The buyer, Armadio Cabinets, Inc. is expanding their space near their existing location in Bensenville. The sales price was $2,125,000.
According to CoStar research on commercial real estate transactions, Chicago’s industrial market continues to show resilience at Q1 2023. The market is experiencing strong tenant demand and low vacancy rates. Landlords remain in the driver’s seat as tenants search the market for space, particularly in the 100K SF and under category. Tenants are advised to start early in searching for space or investment property. They should also have financing in place and be ready to move forward quickly as space becomes available.
February 7, 2023 Alexandria Jacobson, Bisnow Chicago
LEASES
Brown Commercial Group Vice President of Sales Mason Hezner represented landlord HMC CHP 1201 Wiley LLC in leasing 9,900 SF of office space in Schaumburg to MBL International Corp.
Janaury 17, 2023
Brown Commercial Group promoted Mason Hezner and Jim Pietrarosso to vice presidents of sales. Both were senior brokers specializing in industrial and office real estate brokerage services in the Chicago suburbs.
