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Older Suburban Industrials Keep Selling

CHICAGO—Value Industrial Partners has picked up another smaller, suburban industrial building, a class that has become more attractive as class A product remains scarce.

By Brian J. Rogal | Updated on September 16, 2013

CHICAGO—The market for the smaller and older industrial properties that populate much of suburban Chicago has improved enough that investors will even seek out buildings with high vacancy rates. Value Industrial Partners, a Chicago-area property owner which specializes in this class of industrial buildings, recently closed the purchase of a 33,332-square-foot multi-tenant building located at 2201-2207 Lively Boulevard in Elk Grove Village that was only 25% leased at the time of purchase.

Theresa Gleason of Paine Wetzel represented the seller, a private owner, and VIP was represented by Brian Liston and Director of Leasing Brian Gedvilas. The exact terms of the deal were not disclosed.

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