Aurora Industrial Complex
631 W. Park Avenue
Property Description
Price: $14,060,000
Price Per/SF: $41.13
Land Area: ±17.34 Acres
Cap Rate: 6.49% Current | 12.07% Pro Forma
Gross Leasable Area: ±341,810
Year Built: 1950
Investment Highlights
Offered at an Extremely Low Price Per SF of Just $41.13 (Well Below Replacement Value)
Value-Add Opportunity – Current Rents are Approximately 66% Below Market
Multiple Short-Term or MTM Leases Allow Investors Immediate Access to Available Upside
Excellent Value-Add Opportunity
- Anchored by Apex Warehouse Systems, a Premier Service Provider of Warehouse Design, Automation Solutions and Storage Systems. Apex has Exhibited Ongoing Facility Commitment with Recent and Consistent Expansions
- The Remaining 35% of the GLA is Currently on MTM or Short Term Leases with No Options
- Below Market Rents – Market Rent is in Excess of $5.50/SF/Year, While the Subject Property Currently Averages Just $3.30/SF/Year
- Additional Opportunity to Add Value by Utilizing Available Land for Industrial Outdoor Storage (IOS)
Strong Real Estate Fundamentals
- 18 Drive-In Doors and 14 Dock-High Doors
- The Majority of the Property Benefits from High Ceiling Clearance Ranging from 18ft to 34ft
- Hard to Find Crane Facility – Operational but Not in Use
- 13 Different Sprinkler Risers
- Brick Building Reinforced with Metal and Concrete Masonry
Pride Of Ownership Property in Aurora, IL
- Ideally Located Within the Heart of Aurora – Illinois’s Second-Largest City
- Strategically Positioned Among the Nation’s Top 5 Industrial Markets Boasting Unparalleled Connectivity to Key Arterials
- Generational Asset – First Time on the Market in Over 30 Years
- Favorable Property Taxes – Situated in Kane County
Broker of Record: Steve Weinstock, License #: 471.011175
Contact Information
James Andrews
Associate
Net Leased Properties Group
(949) 419-3302
james.andrews@marcusmillichap.com
License: CA 02115272
Craig Elster
Vice President Investments
Director, Net Leased Properties Group
(949) 419-3223
craig.elster@marcusmillichap.com
License: CA 01958307
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
ron.duong@marcusmillichap.com
License: CA 01438643
Senior Director, National Retail Group
(949) 419-3233
ron.duong@marcusmillichap.com
License: CA 01438643