Brown Commercial completes Chicago industrial sale
March 1, 2024 — The Chicago industrial market is supported by a large array of food industry businesses, including manufacturers, distributors and service providers. As these businesses look for industrial space for expansion, some are finding strong competition and a shortage of space. In 2023, specialty foods distributor Krishiv Foods missed out on a few Chicago industrial sale opportunities due to intense competition for space. The company recently found a new space in the western suburbs in an off-market opportunity sourced through Brown Commercial Group’s client network.
Partner Mike Antonelli represented the seller, Spare Tire Enterprises, LLC, in the Chicago industrial sale. The seller originally purchased the building from Antonelli in an off-market sale in 2018. Given the significant increase in industrial building values since 2018, the seller realized a 55% increase in value.
Broker Matt Hanson represented the buyer, which was more than tripling its space in the move from a 9,000-square-foot space in Elk Grove Village, Illinois.
See the Illinois Real Estate Journal for more.
https://browncommercial.com/tag/mike-antonelli/