Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

ELGIN, IL-Arburg USA has purchased a 6,000-sf condominium unit at 2585 Millennium Dr., part of the new 67,000-sf WestPoint at Elgin Corporate Center. With the purchase, about 60% of the first 30,000-sf building is bought or leased, says Jonathan Malm, president of ICE Realty Group, based in Des Plaines.

Arburg, a manufacturer of plastic injection molding machines, has its international headquarters in Germany with a few offices across the US. John Joyce and Al Wahlig, both of Cushman Wakefield, represented Arburg. Malm would not disclose the terms of the sale. Listings by Grubb & Ellis Corporate show the price for units at 2585 Millennium Dr. as $97.03 per sf.

Arburg USA is relocating from its current location in the Fox Valley area to WestPoint because they are expanding “not just physically; but, also, the nature of the operation,” Malm says. The company plans “to create a showroom for their clients to come and see their equipment and also to do some test run operations,” he says. The company should be able to move into the space by April 1, he says. Malm did not have a cost estimate for the work on the unit.

WestPoint is being developed by ICE Realty Group and TCB Development, of Tinley Park. The 4.74 acre development will consist of two buildings of office and warehouse condominiums, Malm says. The first 30,000-sf building was completed last year, he said. The groundbreaking for the second building, which will be 37,000 sf, will occur by the end of the month, he tells GlobeSt.com. Both pre-cast concrete buildings are designed with 18-foot clear heights, Malm says. The 37,000-sf building, costing $6 million, should be available for occupancy by the fall, he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.