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Wirtz Realty Group Facilitates Pres-On Expansion

Authored by Kat Liepins, Director of Marketing, Wirtz Realty Group

Pres-On New Facility in Bolingbrook, IL
PRLog - Jan. 9, 2013 - CHICAGO -- Bolingbrook, IL --- Wirtz Realty Group [the newly formed real estate arm of Chicago based Wirtz Corporation], coordinated the acquisition of a 7.71 acre property improved with a 101,463-square-foot industrial building in Bolingbrook, IL and completed the sale of two industrial properties located in Addison, IL on behalf of the American industrial foam tape and gasket manufacturer Pres-On.

Located at 2600 East 107th Street, Bolingbrook, IL, the newly acquired property consolidates Pres-On’s three smaller facilities into one centralized location that is now their corporate headquarters.  At twice the size of the company’s buildings in Addison, the renovated 115,000-square-foot facility consists of offices, customer service, manufacturing and warehouse space.  Evans Construction/Consulting LLC managed building renovations.

The move to a larger facility was deemed essential by Pres-On due to the considerable growth the company has experienced over the past five years. The building accommodates current operations and offers room for future expansion as Pres-On continues on its growth path.

Retention of jobs and continuing their operations in Illinois, along with the agreement to make a significant investment over ten years, resulted in the negotiation of a State EDGE tax credit with the State of Illinois Department of Commerce & Economic Opportunity and an employee training grant package.  The State of Illinois Department of Commerce & Economic Opportunity along with First Security Trust and Savings Bank in Elmwood, IL provided financing.          

Wirtz Realty Group, headed by Anthony Iatarola - Senior Vice President, is also responsible for the November 2012 completion of Wirtz Beverage Illinois’ office, warehouse and distribution space. The state-of-the-art facility, also known as WBI Center, consolidated four Wirtz Beverage locations into one 605,000-square-foot corporate headquarters in Cicero, IL.

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Source:Wirtz Realty Group
Location:Chicago - Illinois - United States
Industry:Real Estate, Industrial
Tags:acquisitions, consolidations, Finance
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