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GLENDALE HEIGHTS, IL-Matrix International has expanded into 68,400 square feet with its purchase of 1966 Quincy Ct. The fastener manufacturing firm bought the 2.5-acre property from a private investor for $3 million. Matrix is relocating to the building from 41,500 square feet it occupied at 1401 Morse Ave. in Elk Grove Village, where the company’s lease was to expire in May.

“They have a bunch of clients in the Glendale Heights area and this was a second-generation building that’s still very functional,” says John R. Stump, senior associate with Paine/Wetzel ONCOR International, who along with associate Phil Reiff represented Matrix in the deal. “There’s not a lot of product for sale in that price range, and this was a good fit because they have clients in the vicinity and got a favorable sales price.”

The investor, who was represented by Paul Montes and Eric Spiess of Inland Real Estate, put the building on the market after a former tenant moved out.

The distribution and manufacturing building was originally built in 1981, and met Matrix’s needs for heavy power. Additionally appealing to the company was the building’s proximity to Interstate 355 and low DuPage County taxes. The property is located in the Central DuPage submarket, which has an average occupancy rate around 89%.

“It’s struggling right now, but there’s not as much product in this submarket as in others, like the O’Hare market,” Stump tells GlobeSt.com. “The Dupage market – Glendale Heights, Addison, Elmhurst, Carol Stream – is not suffering as much as some of the other markets. There aren’t as many buildings.”

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