PODOLSKY|CIRCLE MIDDLE MARKET INVESTMENT TEAM COMPLETES FLEX FACILITY SALE
Podolsky|Circle CORFAC International’s Middle Market Investment Team, comprised of Principals Alissa Adler and John R. Homsher, CCIM, have represented a regional bank in the sale of Wolf Business Center II, a 90,000 sq. ft. multi-tenant industrial building on 7.9 acres in Huntley, IL. The property sold for $2,550,000.
Wolf Business Center II is a single story multi-tenant flex office/warehouse building located at 10711-10785 Wolf Drive, immediately west of Route 47 via Algonquin Road. The building was 61% occupied at the time of sale.
With units ranging from 2,500 sq. ft. up to 25,000 sq. ft., Wolf Business Center II features hard to find move-in ready suites with private offices and a combination of exterior docks and drive-in doors. The property has parking for 230 cars and features 18’ ceilings.
Adler shared her optimism regarding the property’s future: “Wolf Business Center II is poised to recover under a new ownership structure. The property offers a unique set of amenities for each tenant and is well located near I- 90 with easy accessibility via Route 47.”
The buyer, a privately held real estate investment group, purchased the building as an investment property with the goal of stabilizing it through leasing.