Stern II Partners, LLC had owned the building in the industrial park near the Route 83 and Lake Street interchange for nearly three years. Meanwhile, Lesman Instrument had been in the market for nine months for a location to replace 215 Wrightwood Ave. in Elmhurst.
"The key to the deal was the existing tenant and the lack of quality, user investor industrial product in the area," says Grubb & Ellis senior associate Dominic Carbonari, who represented Lesman Instrument with vice president Frank Griffin.
Property records indicate LaSalle Bank provided mortgage financing for Lesman Instrument's acquisition.
Adam Stokes of Rosemont-based Nicholson Porter & List Real Estate Co. represented Stern II Partners, LLC.
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