The Missner Group has secured a full-building lease with Ferguson Enterprises for its industrial property at 8130 River Drive in Morton Grove, Illinois, completing the stabilization of the asset just six months after acquiring it. The lease marks another milestone in the developer's value-add investment strategy focused on high-demand infill industrial markets across the Chicago region.
The 31,429-square-foot facility combines office and warehouse space and features one interior dock door, two drive-in doors, 21-foot clear heights, and a fully air-conditioned warehouse. The property also offers convenient access to Interstate 294, Interstate 90, and Interstate 94, supporting efficient regional distribution and logistics operations.
According to The Missner Group, the full-building lease validates its approach of acquiring and repositioning industrial assets in supply-constrained submarkets. Company officials said the property's modern features, strategic location, and recent improvements helped attract a long-term tenant.
Jeremy Weisbach, Director of Asset Management at The Missner Group, said the lease reflects the company's expectations when the property was acquired and highlights the value created through targeted improvements. He added that adding Ferguson Enterprises to the portfolio demonstrates the strength of both the asset and the company's investment strategy.
The property's location in Morton Grove provides direct access to Chicago's transportation network, making it well suited for industrial distribution and warehouse operations. The lease also underscores continued tenant demand for well-located industrial buildings with modern warehouse specifications in the northern Cook County market.
The transaction was brokered by Tom Rodeno and Brendan Green of Colliers on behalf of The Missner Group, while Kevin Segerson, Clayton Thorson, and Tom Sorrell of CBRE represented Ferguson Enterprises.
Founded more than 80 years ago, The Missner Group is a third-generation, family-owned commercial real estate developer and general contractor specializing in industrial, office, and mixed-use developments. The company continues to pursue value-add acquisitions, ground-up developments, and construction services throughout the Chicagoland region.
The successful lease demonstrates sustained demand for strategically located industrial properties in the Chicago metropolitan area. For developers, investors, and construction owners, the transaction highlights how targeted property improvements and strong transportation access can accelerate leasing activity and enhance asset value in competitive industrial markets.
Source: Missnergroup.
