CHICAGO—Like industrial companies in the region, Bucher Hydraulics has decided to expand its operations and has purchased 2545 Northwest Parkway in suburban Elgin, a 110,343 square-foot structure built in 1999. The provider of hydraulic drive and control technologies will relocate from 1331 Davis Rd., also in Elgin, where it occupied 42,531 square feet.

The move seems to be an increasingly typical occurrence in the submarket. Experts with local knowledge said growth here usually comes from the expansion of firms with deep attachments to the area.

Elgin and its environs serve “a unique set of users that wish to focus on the northwest corner of the suburbs,” John Dunneback, the director of development for Ryan Companies US Inc., told GlobeSt.com. “I wouldn't say it's isolated, but it is more of a destination submarket.” Ryan recently completed two speculative industrial buildings in the Elgin submarket.

Adam Marshall of Newmark Grubb Knight Frank, along with Joe Bronson, executive vice president of NAI Hiffman, represented the owner, Zilber Property Group. Marshall also represented Bucher. The price of the property was not disclosed.

“Bucher Hydraulics was in need of a larger facility in Elgin to house their expanding manufacturing operations,” Marshall said. “2545 Northwest Parkway was ultimately selected due to its modern environment and high-profile image which provides the infrastructure, square footage and corporate office space needed to sustain their current and future growth.”

The facility is located in Northwest Corporate Park and is adjacent to several retail, restaurant, hotel and child care facilities. It features two-story offices with 23,200 square feet. Additional features include 24' clear ceilings, seven docks and eight drive-in doors.