81,893-square-foot property is home to Ohio Medical LLC

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, today announced it has brokered the $9.2 million absolute net lease sale of an 81,893-square-foot Class A industrial facility at 1111 Lakeside Drive in Gurnee, Ill. Located in the Grand Tri-State Business Park directly off Interstate 94, the property brought in multiple offers and sold after just over one week on the market.

Marcus & Millichap’s Peter Doughty, vice president investments, represented the seller, a private investment group, and procured the buyer, a New York-based real estate investment trust.

“There continues to be extremely high demand for industrial facilities across the Chicago region, especially modern, well-located product along major expressways,” said Doughty. “With a strong tenant in place on a long-term lease, as well as proximity to I-94 and the Chicago and Milwaukee metros, 1111 Lakeside Drive represented a prime investment opportunity for our extensive network of qualified buyers.” Constructed in 1993, 1111 Lakeside Drive contains 24-foot clear heights, four external docks and two drive-in doors. The building is home to the global administrative, production and distribution headquarters of Ohio Medical LLC, a manufacturer of premium respiratory products. The company currently employs a staff of 150 on-site and ships its products to over 80 countries worldwide.