HSA Commercial Sells IL Warehouse
- Apr 19, 2018
HSA Commercial has completed the sale of a 218,500-square-foot warehouse in Waukegan, Ill. The facility represents the first phase of a larger project HSA has been developing east of the Tri-State Tollway, called Delany Commerce Center. CBRE negotiated the deal on behalf of the developer.
The building is located on a 22.7-acre site at 2431 Delany Road and is fully leased to Eagle Foods and Trifinity Partners. Completed in 2013, it was the first distribution center that HSA built in partnership with Washington Capital Management. The property features 30-foot clear heights, 14 truck doors, one drive-in door and 300 parking spaces.
CBRE Vice Chairman Mike Caprile, Senior Vice President Ryan Bain and First Vice President Zach Graham were the brokers involved in the deal.
The company plans to start building the second phase of the development on an adjacent 12-acre lot which can accommodate an industrial or flex facility of up to 220,000 square feet.
“The current competitive labor market is a key factor in decision-making for distribution and logistics companies, and Lake County’s proximity to skilled workers has helped drive new development and leasing activity in the area,” said Robert Smietana, vice chairman & CEO of HSA Commercial Real Estate, in prepared remarks.
Image courtesy of HSA Commercial Real Estate