Magid Glove & Safety Buys 703 KSF Industrial Building in Romeoville, Ill.
- Apr 17, 2014
America’s leading manufacturer of hand protection and first aid, Magid Glove & Safety, has bought 1300 Naperville Drive, a 703,973-square-foot industrial building in Romeoville, Ill. for an undisclosed amount.
The company intends to consolidate two existing locations and relocate its primary manufacturing operations and headquarters to the site, according to the news release.
Cushman & Wakefield, working with Paine/Wetzel, represented the buyer. The C&W’s Brad Weiner and Whit Heitman worked on the deal, with help from Jeff Girling and Terry Lynch of Paine/Wetzel. C&W’s Jason West and Sean Henrick represented the seller, Venture One Real Estate.
Magid Glove & Safety’s new property will combine the operations of two Chicago plants into one larger, modern headquarters, manufacturing and distribution facility, for operational efficiencies, according to Weiner.
The manufacturing company chose the Naperville Drive facility after a 24-month site search.
“The property offered various amenities that matched Magid’s overall needs, which includes 50,000-100,000 square feet of office space, a large kitchen/cafeteria, parking for over 400 employees, 24′ clear ceiling heights, heavy power, and offers enough space for future expansion as well as 10 additional acres for building or parking expansion,” Weiner told Commercial Property Executive.
The facility, formerly occupied by Japanese company Sharp Electronics Corp,. is built on 35 acres, less than a mile from from four-way interchange I-55 and Route 53, close to I-355 and I-80. Sharp consolidated to Mexico and Tennessee six to 12 months prior to closing, according to Weiner. Constructed in 1980 and expanded in 1993, the facility features 10,000 square feet of office space, a partially air-conditioned warehouse, more than 250 trailer stalls, 24-foot clear ceiling heights and heavy power.
“Magid plans to add loading docks, renovate office spaces and add necessary infrastructure in order to accommodate its expanding business,” Weiner added in the news release. “The company initially plans to occupy approximately 450,000 square feet and offer the remaining 250,000 square feet for lease.”