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MILWAUKEE-Avgeris and Associates Inc. recently completed a 172,000-square-foot sale/leaseback deal here. The seller and leasing tenant were undisclosed, as was the sale price.

The property’s tenant will occupy the manufacturing building for a 20-year period. The leasing rates were also undisclosed on the deal.

“We are in the market to buy sale/leasebacks, and we believe this year will provide some solid opportunities,” says Stewart Mills, SVP of Avgeris. “We are not afraid of older properties in tertiary markets, which provide a better return on investment.”

Mills represented his company. Sam Dickman, vice president with the Dickman Co. Inc. represented the tenant. The Chicago-based Metropolitan Capital Bank was the lender in the sale.

The Lombard, IL-based Avgeris has been focusing lately on sale/leaseback transactions. The last three transactions has added two million square feet to the company’s portfolio. The company now has six million square feet of industrial property and two million square feet of office space.

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