September 14, 2020
Lee & Associates closed a sale transaction for an 80,000-square-foot industrial building at 325 N. Ashland Ave. in the West Fulton Market District / Kinzie Industrial Corridor. Buyer TradeLane Properties acquired the two-story loft warehouse building for an undisclosed sum through its TradeLane Properties Fund I value-add platform.
Tom Condon, principal, and Sean Austin, VP, at Lee & Associates’ Illinois office were the sole brokers in the transaction between the owners of Rickard Binding and TradeLane. The property includes an additional 45-spot surface parking lot.
As part of its investment strategy, locally-based TradeLane will redevelop the facility to include a new window system, LED lighting, roof replacement, remodeled interior office and warehouse updates.
The property’s new ownership notes that the facility is suited for light manufacturing, showroom/warehouse, data center, last-mile distribution, life sciences or healthcare services/inventory use. TradeLane has retained the Lee team to market the building for lease.
For comments, questions or concerns, please contact Paul Bubny
acquisition broker industrial renovation
TradeLane Acquires Loft Warehouse in West Fulton Market