LAKE ZURICH, IL-A 183,000-sf building at 555 Oakwood Blvd. has been sold and is now undergoing a renovation. Auto parts manufacturer Smalley Steel Ring Co. is relocating from north suburban Wheeling when renovation is completed later this year, bringing 260 employees.

The property, which includes 17 acres, was sold by Allegiance Healthcare, which had purchased it in the acquisition of a portfolio from Bergen Brunswig. Trammell Crow Co. vice president Richard R. Delisle and Sally Wirth, also with the firm, represented Allegiance Healthcare while John Hauser and Michael O’Malley of Insignia/ESG represented the buyer, Greenhill Company LLC.

Michael Greenhill is vice president of Smalley Steel Ring, which hired Rosemont, IL-based McShane Construction Corp. to do the “fast-track retrofit” renovation project. The one-story building will contain 94,500 sf of warehouse space and 60,000 sf for manufacturing operations. There also will be 33,900 sf for office space.

Dobrin + Associates, Ltd. is providing the architectural services.