WHEELING, ILL. — Marcus & Millichap has brokered the $17.4 million sale of a 96,712-square-foot industrial building in the Chicago suburb of Wheeling. The property is situated on 9.5 acres at 199 Shepard Ave. Anchor tenants include JV Global Services, Ready Set Gourmet, GFS Transport and Aargus Plastics. The asset features cold storage, industrial outdoor storage, rail access and proximity to I-294 and the Chicago O’Hare International Airport. The sale includes a partial leaseback with JV Global Services and a pending 14,796-square-foot, build-to-suit cold storage facility for Ready Set Gourmet.
Zach Orzel, Adam Abushgur and Tyler Sharp of Marcus & Millichap represented the seller, JV Global Services LLC. Sharp, Abushagur and Clayton Isacson procured the buyer, Prairie Hill Holdings. Frank Montalto and Ethan Splan of IPA Capital Markets, a division of Marcus & Millichap, arranged $11.4 million in financing. The five-year loan features a 65 percent loan-to-value ratio and 12 months of interest-only payments at 6.4 percent followed by a 25-year amortization period.