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Bridge Pays $5M for Slough Building

ELGIN, IL-Madison, WI-based Stewart Associates leases 46% of a 65,656-sf building at 2455 Alft Ln. and plans to lease the remaining 35,656 sf to smaller users. The deal follows Capital Realty & Development's $4.2-million buy of 2425 Alft Ln., a 42,486-sf warehouse.

By Mark Ruda | Updated on August 09, 2005

(To read more on the industrial market, click here.)

ELGIN, IL-Slough Estates USA Inc. has sold another warehouse building in its business center near Randall Road and the Northwest Tollway, getting $5 million for a 65,656-sf asset from Bridge Development Partners, LLC. Madison, WI-based Stewart Associates leases 46% of the building at 2455 Alft Ln., and Bridge Development Partners plans to divide the remaining 35,656 sf into smaller units.

“We are bullish on this building’s location in Elgin,” says Bridge Development Partners principal Ronald T. Frain. “We prefer infill properties and would rather pay more for buildings we know will work immediately than pioneer new growth corridors with long lead times.”

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