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American Asset Buys 110,000-SF Industrial

SCHAUMBURG, IL-The company purchased the industrial property at 2401 Palmer Dr. from Waterton Associates for $6 million.

By Cari Brokamp | Updated on November 10, 2008

SCHAUMBURG, IL-American Asset Management Services has acquired an 110,000-square-foot industrial building at 2401 Palmer Dr. Waterton Associates sold the property for $6 million. The building is around 95% leased to three tenants.

Erik Foster, SVP with Grubb & Ellis’ capital markets group, and associate VP Mike Wilson represented the seller in the deal. “American Asset realized the stability of the building given the tenants and the occupancy, and what that presented for an investor,” Foster tells GlobeSt.com. The building is occupied by Cricket Communications, clothing distributor Sun Cap, and DG Printing, a full-service printing, graphics, design and mailing house, which each occupy about 35,000 square feet.

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