Stay-at-Home Trend Boosts Demand for their Specialty Plumbing Products.
Ella’s Bubbles, Inc. started manufacturing the world’s safest type of bathtubs in 2008. “Business is better than ever” according to founder, Laimonis Magone, who arrived in America from Latvia in 1991 at the age of 27, “demand for walk-in tubs is very strong as a consequence of the pandemic.”
“Nobody is clamoring to send grandma into a nursing home during COVID-19,” says Magone. “It has become a matter of life and death.” Considering the frightening statistics regarding the spread of COVID-19 in nursing homes worldwide, seniors are staying home–or moving-in with their adult children. Family members don’t want their loved ones getting sick in crowded residential facilities where social distancing is impossible.
Medical professionals say a big problem that older folks is struggle with is mobility and unsteadiness. Families worry about the hazard risk of a dangerous fall at home.
Enter Laimonis Magone. His company, named after his young daughter, Ella, has one very smart answer: purchase and install a great walk-in-tub at home, eliminating the awkward climb over the tall, slippery side of a standard bathtub.
Ella’s Bubbles’ tub designs are engineered to compete industry giants Kohler, American Standard and Safe-Step. “My designs need to offer better features than my more well-known competitors.” Magone has 25 employees who busily assemble his top quality product-line from an industrial space of 32,000 square feet at 2700 Roosevelt on Chicago’s West Side.
Ella’s Bubbles recently renewed its industrial property lease to continue their production-line operations. The property owner is an affiliate of Rosemont based Brit Properties. Brit Properties partner, Joel Friedland, says “Ella’s Bubbles is an American dream come true.” We are proud to be the owner of a building occupied by Laimonis’ rapidly expanding manufacturing business.” According to Friedland, the rental rate for the three year renewal term is $6.50 per square foot per year, plus real estate taxes. He says this rate is consistent with comparable manufacturing spaces in other industrial buildings in the Chicago area.
Brit Properties operates 20 Chicago area industrial properties on behalf of private investment funds. Their investors consist of approximately 200 accredited investors and families. The firm is currently raising a new fund to buy additional industrial properties. The fund’s main features include positive cash flow and a highly conservative amount of mortgage debt, similar to the Ella’s Bubbles facility, with a 25% loan to value ratio (LTV).