- Wednesday, February 7, 2024
- Elgin, IL
News Release: Seefried Announces Sale of 144k Square Foot Industrial Building in Elgin
(Elgin, Illinois) (February 7, 2024) – Seefried Properties, a privately held real estate firm specializing in the development, leasing, and management of industrial properties, has formally announced the sale of a 144,414-square-foot industrial facility to a custom plastic molded parts manufacturer. The transaction details remain confidential.
Jason West and Doug Pilcher with Cushman and Wakefield represented Seefried in the sale, while Noel Liston of Core Industrial Realty represented the buyer.
Located at 1705 Madeline Lane in Elgin, Illinois, the building features a 32-foot clear height, nineteen dock doors with two drive-in doors, 205 car parking stalls, and an ESFR fire sprinkler system. The property is part of a two-building 465,360-square-foot Class A campus that commenced construction in July of 2023. Seefried is actively seeking users to lease or purchase the adjacent property at 1700 Madeline Lane. Following shell completion in March 2024, the building will include 320,946 square feet of space with divisibility down to 150,000 square feet. Additional features include a 36-foot clear height, forty-two dock doors with room for six future dock doors, two drive-in doors, 259 car parking stalls, and an ESFR fire sprinkler system.
Dave Riefe, Senior Vice President of Seefried's Midwest region, remarked, "The considerable demand for premium industrial and logistics facilities in the Chicago market is what, in our opinion, makes this project an attractive investment. Given the location’s accessibility to a large population base and diverse labor pool, we anticipate sustained demand for this type of product throughout the area."
Both buildings are strategically located one mile south of a full four-way interchange at I90 and Randall Road, providing proximity to a population of 3.8 million within a 30-mile radius.
About Seefried Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Properties is as a privately held real estate company specializing in the development, leasing, and management of industrial properties across the United States. The company primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried leases and manages approximately 25 million square feet for its institutional and European clients and has developed over 200 million square feet of space valued in excess of $18 billion across 30+ markets. Headquartered in Atlanta, Seefried Properties extends its operational presence through regional offices strategically located in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit www.seefriedproperties.com.