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CAROL STREAM, IL-San Francisco-based Bristol Group has paid $16.5 million for a 360,864-sf warehouse and distribution facility at 720 Center Ave. The deal with a local limited liability corporation includes a 14.6-acre site in the industrial park north of Fullerton Avenue, between Gary Avenue and Schmale Road in the DuPage County submarket.

Bristol Group has sold more than one million sf of warehouse space in the Chicago area since 2000. It still owns a 103,000-sf warehouse at 965 Muirfield Dr. in Hanover Park as well as a 75,538-sf warehouse at 189-99 Easy St. in Carol Stream. In addition, the company owns 58 acres on Gary Street between Lake Street and Central Avenue in Roselle, which can be developed as a business park; and 20 acres at the northwest corner of Gary and Lake streets, which is zoned for retail and commercial uses.

Colliers Bennett & Kahnweiler Inc. vice president Jeffrey J. Kapcheck, SIOR has been hired to lease space in the six-year-old building, which boasts 30-foot ceiling heights and 40 exterior dock high doors. Asking net lease rates are $4.25 per sf, with a minimum space block of 150,000 sf.

“The acquisition of this highly functional warehouse and distribution property in Carol Stream aligns well with Bristol’s other industrial holdings in DuPage County as well as our nationwide core industrial platform,” says Bristol Group acquisition manager Dave Williams.

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