Investment Firm Purchases Building

First Chicago Investment Advisors, a subsidiary of Illinois-based First Chicago Corp., has purchased a 192,000-square-foot building in the City of Industry for $6.4 million.

The all-cash sale/leaseback transaction was negotiated by Grubb & Ellis Commercial Brokerage Services. Jiffy Packaging Co. sold the fully occupied building at 19430 E. Arenth Ave., then became a tenant by leasing back 84,000 square feet.