Elgin industrial building sold for $29.8 million

Conor Commercial Real Estate in Rosemont, along with joint venture partner Globe Corp., has closed a $29.85-million sale transaction to Cabot Properties for Northwest Pointe II, a 385,372-square-foot industrial building located on a 22-acre parcel near the intersection of Galvin and Higgins Roads within the Northwest Corporate Park in Elgin.

John Huguenard and Ed Halaburt of Jones Lang LaSalle teamed with Ken Franzese and John Cassidy of Lee and Associates to represent Conor in the sale.

Northwest Pointe II was recently 100 percent leased to Box Partners. This is the second successful development in Northwest Corporate Park by Conor following the development, lease and sale of the 342,620-square-foot Northwest Pointe I project. Conor Commercial is in the planning stage of developing the third project in the Park, Northwest Pointe III, scheduled to start construction in the Spring of 2019.

Brian P. Quigley, executive vice president of Conor Commercial Real Estate said "We are pleased to announce the sale of Northwest Pointe II. This sale is consistent with Conor's strategy to develop, lease and then sell class A industrial buildings."

McShane Construction Company and Ware Malcomb Architects served as the design/build team for the construction of the build-to-suit project.