Joint Venture Between DRA Advisors and Venture One Real Estate Sells Industrial Bldg.
Chicago-based Magid Glove and Safety Manufacturing Co. acquired the 643,617-square-foot warehouse building at 1300 Naperville Dr. in Romeoville, IL for $12.6 million, or about $20 per square foot.
The industrial building delivered in 1987 and is located on two parcels totaling 35 acres. The property was vacant at the time of sale. Magid Glove and Safety Manufacturing has plans to renovate the property and plans to occupy more than half of the overall space. The remaining warehouse space will be available for lease.
Sean Henrick and Jason West of Cushman & Wakefield represented the sellers, a joint venture between DRA Advisors and Venture One Real Estate. Brad Weiner and Whit Heitman, also of Cushman & Wakefield, and Jeffrey Girling and Terry Lynch of Paine/Wetzel TCN Worldwide represented the buyer.
Please see CoStar COMP #3004454 for additional information on this transaction.