Rockford Asset Management Acquires 450,000 Square Foot Industrial Asset In Alton For $15M

The Alton Center Business Park, located at 1400 Discovery Parkway in Alton, Illinois, has been sold for $15,000,000. This industrial asset spans 450,000 square feet and encompasses 133.8 acres of land. The property is currently 70% leased and is anchored by Imperial Manufacturing Group.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,000,000
• Square Footage: 450,000
• Address: 1400 Discovery Parkway
• Market: Alton, IL
• Price Per Square Foot: $33
• Buyer: Rockford Asset Management
• Brokers: Tyler Sharp & Adam Abushagur - Marcus & Millichap
• Mortgage Brokers: Frank Montalto & Ethan Splan - Institutional Property Advisors
• Acquisition Financing Secured: $12.4 million

The sale was facilitated by Tyler Sharp and Adam Abushagur from Marcus & Millichap, who represented the buyer, Rockford Asset Management. Frank Montalto and Ethan Splan from Institutional Property Advisors were responsible for securing the acquisition financing for the property.