The Missner Group Acquires 152,000 Square Foot Industrial Property in Morton Grove
(Des Plaines, Illinois) – The Missner Group is pleased to announce the firm acquired a 152,000 square foot industrial warehouse at 8338 Austin Avenue in Morton Grove, Illinois.
The Missner Group purchased the facility based on its location and viability in the marketplace. The property is comprised of approximately 76,000 square feet of office space and 76,000 square feet of warehouse/manufacturing space. Located at Austin Avenue within a few miles of I-94, the building sits on 7.3 acres and features 16’ clear heights, five exterior docks and one drive-in door. The property is currently 100% leased by two tenants: Schwarz Supply Source and Integrated Merchandising Systems, LLC.
“We are pleased to add this high-quality, well-positioned asset to our company’s portfolio,” said The Missner Group’s Chief Executive Officer, Barry Missner. “We were drawn to the property’s location as well as the large lot size, which is atypical for industrial properties in the area and lends itself as an excellent re-development site.”
Mr. Missner and Ed Adler, SVP of The Missner Group led the acquisition for the firm. Eric Sorenson and Dirk Riekse of Cushman and Wakefield represented The Missner Group in the purchase of the property. The Cushman and Wakefield team also represented the building’s seller.
About The Missner Group
The Missner Group, headquartered in Des Plaines, Illinois, provides comprehensive and integrated real estate development and construction services throughout the Chicagoland and Midwestern markets. The firm, established in 1945, has completed more than $900 million in construction projects, and has developed and acquired more than 10 million square feet of commercial and industrial real estate. For more information, please visit www.missnergroup.com.