CHICAGO—Magid Glove & Safety has just completed the acquisition of 1300 Naperville Dr., a 703,973-square-foot industrial building in suburban Romeoville less than one mile from I-55. The company has decided to consolidate its manufacturing, headquarters and distribution operations from several existing locations in Chicago into the Romeoville site. According to documents filed with Will County, the price was $12.6 million.
Magid manufactures, imports, distributes and directly supplies hand protection, protective clothing, first aid, and personal protective equipment.
Brad Weiner and Whit Heitman from Cushman & Wakefield represented Magid in the transaction and were assisted by Jeff Girling and Terry Lynch of Paine/Wetzel. Cushman & Wakefield’s Jason West and Sean Henrick represented the seller, Venture One Real Estate.
“It was an intense search,” Weiner tells GlobeSt.com. “We probably toured every building on the Chicago market over 300,000-square-feet, from Lake County and southeastern Wisconsin in the north down to the I-55 corridor.”
The goal, not easily reached, was to find one property large enough to host all Magid operations and have enough room left over to accommodate the future growth this optimistic company expects.
“Down near the I-55 Corridor, there are several options,” Weiner says, “but if a company wants to be north of Touhy Ave., and if they need more than 200,000-square-feet, there are few available properties.”
Situated on 35 acres near the four-way interchange at I-55 and Rte. 53, the company’s new location offers easy access to the expressway. The building was constructed in 1980 and expanded in 1993. It features 100,000-square-feet of office space, a partially air-conditioned warehouse, more than 250 trailer stalls and 24-foot clear ceiling heights.
“Magid will move inventory, manufacturing and more than 400 employees from two facilities, including their main location at 4500 W. Armitage in Chicago,” Weiner adds. The consolidation should increase the overall efficiency of Magid’s operations since the Chicago locations were separated by several miles. The company “plans to add loading docks, renovate office spaces and add other necessary infrastructure in order to accommodate its expanding business.” It “initially plans to occupy approximately 450,000-square-feet and offer 250,000-square-feet for lease.”
Weiner says the move was not a reflection on the city of Chicago, Magid’s home since the 1940s. “I don’t think there was any motivation to leave the city. The decision was based on the lack of existing facilities at the right size range.”