Founders Properties, a private real estate investment management firm, announced the acquisition of 2400 Commerce Drive, a 128,539-square-foot light manufacturing and distribution facility located in Libertyville, IL. Terms of the deal were not disclosed.

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The property is 100% leased as the corporate headquarters for a single tenant under a long-term agreement. Originally built in 1994 and occupied by the tenant since 2007, the building was expanded in 2013 to accommodate the tenant’s growth needs.

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“The acquisition of this property underscores our strategy to invest in well-located, stabilized industrial properties in markets with strong fundamentals and high barriers to entry,” said Chris Courneya, Managing Director at Founders. “We have had a long and successful track record investing in the Chicago area and are further strengthening our presence in this market with the addition of 2400 Commerce Drive.”

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The property is part of Chicago’s desirable Lake County submarket, located at the midpoint of the Chicago-Milwaukee corridor, and accessible to all other major Midwest markets.

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About Founders Properties
Founders Properties is a privately held real estate investment management company based in Minneapolis, MN. The firm has been investing in private commercial real estate for 25 years on behalf of high-net-worth and institutional investors. Founders’ expertise is in industrial properties.

 

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Media contact:

Maureen Richardson, River Communications

mrichardson@riverinc.com

(914) 686-5599