Lee & Associates of Illinois recently facilitated three successful sale transactions in the highly sought-after Fox Valley submarket. Led by Executive Vice President Andrew Block and Principal Michael Plumb, the team secured a $7.3 million deal for HFI Manufacturing’s new 60,196-square-foot industrial property at 3925 Stern Avenue in St. Charles and a $4.3 million sale of their previous 48,130-square-foot building at 1100 Carolina Drive in West Chicago.
HFI Manufacturing is experiencing rapid growth and required a larger facility for their stainless-steel manufacturing operations. The buyer of the Carolina Drive property was Paclantic Naturals, LLC.
In addition to these transactions, Block joined forces with Principal Nick Eboli to represent Eaglestone in the sale of their former location at 3705 Swenson Avenue in St.Charles – a prime industrial space spanning over19,888 square feet that sold for $2.1 million to an undisclosed private buyer.
Eaglestone has since expanded into an even larger facility measuring85,000 square feet located on Frontenac Roadin nearby Naperville –a move made possible through Block and Eboli’s expert guidance during negotiations.
According to Block,”The Fox Valley submarket continues to experience high demand for available industrial properties across all size ranges due its limited inventory with only a vacancy rateof just3.6%.”
