Normal, IL – Lee & Associates, one of the largest national commercial real estate firms, has completed the $4,850,000 investment sale of an approximately 102,000-square-foot manufacturing and warehouse facility on 7.59 acres located at 2219 W. College Avenue in Normal, IL.
The building is leased to Superior Consolidated Industries dba SC2 Services, Inc. (www.sc2services.com), a third-party logistics services (3PL), filtration, warehousing, contract packaging, industrial finishing, kitting, sequencing, sub-assembly and manufacturing support for Tier 1 and Tier 2 Manufacturers and Original Equipment Manufacturers (OEMs).
In 2004, SC2 acquired NuAir Filter Corp, which had operated at this location for 30 years, boosting SC2’s presence in indoor air filtration at this Normal facility. The property offers a strategic location near the 3.3 million square-foot automotive plant for electric truck and SUV manufacturer Rivian.
There are roughly 4 years remaining on the lease from a sale-leaseback the tenant completed in 2018. The absolute NNN lease features 2% annual rent increases and offered minimal landlord responsibilities.
Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County co-represented the Seller in conjunction with Lee & Associates of Illinois, achieving 97% of the asking price and an18-day all in escrow period. The buyer was a southern California-based private investor who paid all cash.
Barr & Bennett Net Leased Investment Group, a team within Lee & Associates-North San Diego County, specializes in the acquisition and disposition of net leased assets nationwide.