October 1, 2020

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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.

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Tags: Acquisition, Broker, Industrial, Renovation

acquisition broker industrial renovation

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TradeLane Acquires Loft Warehouse in West Fulton Market

Paul Bubny

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