The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net lease industrial property leased to Atlas Fibre located at 3411 Woodhead Drive in Northbrook, Illinois for $8,900,000.<\/p>\n
The 117,000 square foot net lease industrial building benefits from its proximity to Interstate 294 (114,800 VPD) and the Edens Spur (Interstate 94, 53,500 VPD). The property is located in a prime industrial area known as Sky Harbor Industrial Park. It features over 1.8 million square feet of industrial and flex space spread across 47 properties. Sky Harbor Industrial Park is populated by tenants such as Walgreens Innovations, Ice Mountain, Nestl\u00e9, Underwriters Laboratories, NICL Laboratories, FedEx, ConTech Lighting, Northbrook Public Works, Northbrook Park District and several others. The investment is positioned 25 miles northwest of downtown Chicago and 14 miles from O\u2019Hare International Airport. The building was recently equipped with new mechanical systems throughout, T5 lighting, and a new thermoplastic white energy efficient roof that all totaled $2.14 million in improvements. The property is also equipped with a 6,000-amp, 480-volt, 3-phase electrical system, which is more power than anyone in the industrial park besides Underwriters Laboratories.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who is a local real estate owner.<\/p>\n
\u201cIndustrial properties located in MSAs like Chicago are highly sought after by larger investors.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cThere is a limited supply of quality single tenant industrial properties in the market which is compressing cap rates.\u201d<\/p>\n