Miyano Gets $7M for Building in Sale-Leaseback

WOOD DALE, IL-Miyano Machinery Inc. has sold its 168,460-sf warehouse and manufacturing plant at 940 N. Central Ave. for nearly $7 million but is leasing the property back from a partnership affiliated with HSA Commercial Real Estate. Property records also show Fifth Third Bank provided the new owners with a $7.96-million mortgage.

A precision machine technology company, Miyano Machinery has occupied the building since 1987. HSA Commercial Real Estate will also manage the property for the new owners, two limited liability corporations.

Greg Wright and Leslie Spinner of Paine/Wetzel ONCOR International represented Miyano Machinery.

HSA Commercial Real Estate has grown its industrial portfolio to 11.8 million sf.

In an unrelated DuPage County sale, Shima American Corp. sold its 23,380-sf building at 398 Wrightwood to a private investor for $1.28 million. Paine/Wetzel-ONCOR International principal Elise A. Couston represented the seller while SVP Albert Schulman represented the buyer.