Low interest rates and ample debt and SBA financing are turning even the smallest industrial tenants into buyers. A sale today inNorthbrookdrives the point home. (If nothing else, being your own landlord means a shorter walk to drop off the rent.) Chicago Tech, a high tech equipment, IT, and telecom asset management company, paid $840k for a 19k SF industrial/flex building, 3501 Woodhead Dr in Northbrook, for its North Shore HQ. (The seller was a venture of Colony Capital.) The owner/user financed the acquisition and some renovations with two loans totaling $959k from BMO Harris Bank (including an SBA 504 loan), county records show. Chicago Tech will continue to lease sales/office space in Ravenswood. Paine/Wetzel/ TCN Worldwide's Brad Weiner,Whit Heitman, and Sam Badger repped Chicago Tech and Sperry Van Ness's Angelo Labriola and Paul Cawthon repped the seller.
Send us your Memorial Day BBQ pics! marissa.oberlander@bisnow.com
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