Torrance, CA – September 14, 2011 – (RealEstateRama) — The Illinois office of Lee & Associates, one of the largest commercial real estate firms in the country, has closed on the $2 million sale of a 319,589-square-foot industrial park in Michigan City, Ind. Lee & Associates of Illinois represented the seller, Corp. 1 (f/k/a Hartmarx Corporation), in the transaction.
Brian Vanosky, John Sharpe and Justin Fierz, principals out of Lee Illinois in Chicago represented XMH Corp. 1, which sold the asset located at 5000 S. Ohio St.
The property consists of two buildings measuring 169,589 square feet and 150,000 square feet, built in 1970 and 1984, respectively. Approximately 62,000 square feet of office space is included.
“This transaction means a lot to Michigan City. To have a building this size purchased by a local manufacturer,” said Kevin Keift of the Michigan City Economic Development Corporation. “We had three parties that were interested in the property. Two of them wanted to break it up. But Select Development Corporation, an affiliate of Fas-Pak, Inc., will be utilizing the entire complex, and that makes it especially special. This means a lot to the local economy and we’re thrilled.”
Buyer Select Development Corporation was represented by Liliana Ake of Exit 1 Realty.
About Lee & Associates
Celebrating more than 32 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 43 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.