After upgrading a multi-tenant flex-industrial building in Downers Grove, the owner sold it for $6.1 million.
The seller, 1441 Branding LLC, closed on a sale last week with an East Coast investment group for the 48,000-square-foot building at 1441 Branding Ave. in DuPage County.
The fully occupied property is anchored by LPMS at 19,000 square feet.
The seller sold the property because it “wanted to take advantage of today’s premium flex-industrial pricing,” said Jason St. John with Greenstone Partners.
St. John represented the seller and buyer in the transaction.
The property received more than $770,000 in capital improvements since 2020 and included a full roof replacement, parking lot milling and repaving, tuckpointing, regrading, landscaping upgrades, new paint and several new HVAC units.
“[There’s a] demand for well-located, flex-industrial assets in DuPage County,” said St. John.“Investors are seeking alternatives to pure industrial where they can obtain a better investment return.”