Press Releases
Marcus & Millichap Arranges $15M Sale and Financing of 450,400-Square-Foot Industrial Property in Alton, Illinois
June 08, 2026
ALTON, Ill., June 8, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Alton Center Business Park, a 450,400-square-foot industrial property located in the St. Louis MSA. The property sold for $15 million. IPA Capital Markets, a division of Marcus & Millichap, arranged $12.4 million in acquisition financing.
“Alton Center Business Park presented a compelling value-add opportunity with approximately 30% vacancy, providing immediate upside potential, while benefiting from a stable income stream generated by a long-term international manufacturing tenant occupying the remainder of the property,” said Tyler Sharp, senior director investments. “Investor interest was strong throughout the marketing process, and demand for industrial suites in the 50,000- to 70,000-square-foot range, combined with the market's low vacancy rate, positions the property well for future lease-up and growth.”
Sharp and Adam Abushagur, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private family partnership, and procured the buyer, Rockford Asset Management.
Frank Montalto, managing director, and Ethan Splan, associate director, both based in the firm’s Chicago Downtown office, secured the financing with a direct bridge lender on behalf of the buyer. The loan is non-recourse and features a 3-year term with extensions at 75% loan-to-cost.
Alton Center Business Park is situated on 133.79 acres at 1410-1450 Discovery Parkway. Built in 1960, the property is anchored by Imperial Manufacturing Group and features 22 dock-high doors, five grade-level doors, clear heights ranging from 23 to 25 feet, and significant outdoor storage capacity. Positioned adjacent to Union Pacific and Norfolk Southern rail lines and at the foot of the Clark Bridge on U.S. Route 67, the property offers direct access to the St. Louis region’s extensive transportation and logistics network.
“Alton Center Business Park presented a compelling value-add opportunity with approximately 30% vacancy, providing immediate upside potential, while benefiting from a stable income stream generated by a long-term international manufacturing tenant occupying the remainder of the property,” said Tyler Sharp, senior director investments. “Investor interest was strong throughout the marketing process, and demand for industrial suites in the 50,000- to 70,000-square-foot range, combined with the market's low vacancy rate, positions the property well for future lease-up and growth.”
Sharp and Adam Abushagur, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private family partnership, and procured the buyer, Rockford Asset Management.
Frank Montalto, managing director, and Ethan Splan, associate director, both based in the firm’s Chicago Downtown office, secured the financing with a direct bridge lender on behalf of the buyer. The loan is non-recourse and features a 3-year term with extensions at 75% loan-to-cost.
Alton Center Business Park is situated on 133.79 acres at 1410-1450 Discovery Parkway. Built in 1960, the property is anchored by Imperial Manufacturing Group and features 22 dock-high doors, five grade-level doors, clear heights ranging from 23 to 25 feet, and significant outdoor storage capacity. Positioned adjacent to Union Pacific and Norfolk Southern rail lines and at the foot of the Clark Bridge on U.S. Route 67, the property offers direct access to the St. Louis region’s extensive transportation and logistics network.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
