|In-city service companies are benefiting from lower values and SBA financing to aquire their own facilities, say NelsonHill's Mark and Mike Nelson, who have brokered two such sales this month. The first, a 67k SF property at 833 W 47th in Back of the yards, sold to Majestic Auto Glass,
which was attracted by the 28-foot ceilings and proximity to the
highway. IHE, an industrial handling company, sold the building to move
to a leased space.
|The Nelsons also repped a NY-based cab company in its purchase of 5353 W Armstrong
on the North Side, which sold for $2.3M. It will be converted from a
manufacturing facility to a repair shop for its 500-car fleet. The
seller, Pyramid Mouldings, was repped by Darwin's Ryan Hanley. "Industrial sales in the city are still sluggish, but product in strong locations is selling to qualified users," Mark says. |