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Lee & Associates negotiates purchase of a 36,092 SF industrial building

07/17/2015

ROMEOVILLE, Ill.—July 9, 2015— Lee & Associates, one of the
largest national commercial real estate providers with regional expertise,
has closed an investment sales transaction for a 36,092-squarefoot
industrial building located at1201-1225 Naperville Dr. in
Romeoville.
“With I-55 becoming almost exclusively institutionally owned, it is
certainly a challenge to fi nd these off market deals in the corridor.
We were in conversations with the seller for a few years. Timing
and interest from our buyer fi nally lined up. It was nice to get
another one of these done as they are becoming fewer and further
between despite the equity interested in placing in I-55.” said Terry
Grapenthin.
Principals, Jeff Galante and Terry Grapenthin, at Lee & Associates’
Illinois offi ce, represented the buyer, Value Industrial Partners,
an owner of over four million square feet of industrial buildings
throughout the Chicago area. “We are excited to add this building
to our portfolio. We own several other buildings in the area and
this building is a great fi t within our portfolio which we continue to
grow. It was great working with Terry and Jeff on this transaction.
Their market knowledge and expertise was appreciated throughout
the process,” said Brian Gedvilas of Value Industrial Partners.
The seller was JJH Management LLC.

07/10/2015 - 09:00

Source

Lee & Associates

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