Quantum Real Estate Advisors, Inc. has brokered the sale of a net lease industrial property located in Melrose Park, Illinois. The tenant, who has operated a metal grinding business for over 30 years, ended up acquiring the property. The investment traded at a 9.25 percent CAP, which was less than one percentage point off the list price.
“The manufacturing facility was a mission critical location for the tenant who had recently completed their final phase of improvements,” said Jason Caplan, senior vice president of Quantum Real Estate Advisors. “Both buyer and seller worked diligently to close before the end of September.”