IBC sells building & breaks ground on another at Concord

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Building 4
IBC Holdings’ final building at Concord Business Center will be identical to Building 5, which recently sold to a user for $9.64 million.

IBC Holdings recently completed the $9.64 million sale of an industrial building at Concord Business Center and will break ground this month on an identical building in the master-planned business park.

Gordon Development II LLC paid $151.65 per square foot for Concord Building 5, a 63,550-sf building at 8644 S. Peoria St. in Englewood. The buyer is affiliated with Gordon Plastics, which was negotiating to lease space in the building when it decided it wanted to own it, according to Brian Mott, IBC Holdings co-founder and managing director.

Gordon Plastics will occupy 47,807 sf in the building.

Ninja Nation, which operates obstacle course “arenas” akin to those seen on television’s “Ninja Warriors,” will open a facility in the building’s remaining 15,743 sf in June.

Concord Building 5’s features include 24-foot ceiling clearance, skylights, ESFR fire sprinklers, and dock-high and drive-in loading.

A twin building, Building 4, is scheduled to break ground this month, with delivery in fall. It will be the eighth and final building IBC has developed at Concord Business Center.

Intergroup Architects and Murray & Stafford, which designed and built, respectively, the other buildings in the park, will be the architect and contractor.

While Buildings 4 and 5 cater to tenants that need for higher ceilings and substantial warehouse space, Concord Business Center also includes a higher-image, 42,720-sf flex building with more glass and parking (2.6 parking spaces per 1,000 sf). The building which is available for lease, is suitable for tenants that may want as much as 100 percent office finish.

David Lee and Jason Addlesperger of Newmark Knight Frank are the leasing brokers for Concord Business Center and represented IBC Holdings in the sale of Building 5.

Featured in CREJ’s April 18-May 1, 2018, issue

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