Component Plastics Inc. Acquires 144,414 SF Industrial Facility In Elgin From Seefried Properties For $19.4M

Seefried Properties has sold a 144,414-square-foot industrial facility located at 1705 Madeline Lane, Elgin, Illinois. The property was purchased by Component Plastics Inc. for $19.4 million at a rate of $134 per square foot. The transaction took place on February 8, 2024. Cushman & Wakefield represented the seller, while Core Industrial Realty represented the buyer in this deal.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $19,400,000
• Address: 1705 Madeline Lane, Elgin, Illinois
• Market: Elgin
• Buyer: Joe Valente - Component Plastics Inc.
• Seller: Rob Rakusin - Seefried Properties
• Buyer's Representative: Noel Liston - Core Industrial Realty
• Seller's Representatives: Doug Pilcher & Jason West - Cushman & Wakefield
• Square Footage: 144,414
• Price Per Square Foot: $134

This transaction involved the sale of a recently completed warehouse that is part of a larger two-building campus developed by FCL Builder, Spaceco, and Harris Architects. The deal signifies the successful transfer of ownership of the industrial property from Seefried Properties to Component Plastics Inc. Cushman & Wakefield represented the seller, Seefried Properties, while Core Industrial Realty represented the buyer, Component Plastics Inc.