CHICAGO, IL – April 9, 2020 – STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, recently arranged for the sale of a 200,000 square foot net leased industrial property in Elk Grove Village, Illinois.
The property is 100% occupied under a long-term absolute triple net lease by Material Sciences Corporation, a leading technology provider of metal solutions for acoustical, light-weighting and coil coated applications
Adam English, Phil DiGennaro and Chelsea Mandel of STREAM Capital Partners represented the seller, a partnership between Jera Partners LLC and a Fund managed by DRA Advisors LLC, in the transaction.
The buyer was Midtown Capital Partners LLC, a Miami, Florida based real estate investment and asset management firm with $700 million dollars under management across industrial, office and retail properties.
English said of the transaction, “this was a great deal to get done in what has quickly become a challenging market. Everyone involved from buyer and seller to attorneys, vendors, mortgage brokers, etc. worked hard to get the deal over the finish line to closing.”
Said DiGennaro of the transaction, “we had great interest from a number of buyers due to the excellent location of the property and strong credit tenant; however, the Coronavirus situation definitely posed a unique challenge in terms of the lending market.”
Mandel added that “despite the temporary and unforeseen headwinds we are facing, we are long-term positive on industrial properties and the O’Hare submarket, where the property is located.”
About Jera Partners LLC
Jera Partners is a commercial real estate investment firm focused on properties that are net-leased to quality credit tenants. With over 75 years of combined experience and $50.0 billion of real estate transactions completed among its principals, David Kay, Carrington Guy, and Michael Rebibo. Jera Partners is dedicated to identifying, executing and managing opportunities that create long-term value for its partners and investors through prudent investment, stewardship and service excellence. For more information, visit www.jerapartners.com
© 2024 STREAM Capital Partners. Privacy Policy.
