Aurora Industrial Complex

631 W. Park Avenue

Property Description

Price: $11,600,000
Price Per/SF: $33.94
Land Area: ±17.34 Acres
Cap Rate: 7.52% Current | 11.17% Pro Forma
Gross Leasable Area: ±341,810 SF
Year Built: 1950

Investment Highlights

Offered at a 7.52% Cap | Low Price Per SF of Just $33.94 (Well Below Replacement Value)

Under Market Rents – Low Average Rent/SF of Just $3.30/SF MG | Pro Forma Cash on Cash Return of Over 15%

Value-Add Opportunity – Investors Have the Ability to Achieve a Pro Forma Cap Rate of 11.17% by Leasing Up Vacancies and Renewing Existing MTM Leases at Market Rents

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 $4.00/SF/Year NNN, While the Subject Property Averages Just $3.30/SF/Year Modified Gross
  • Generational Asset – First Time on the Market in 30+ Years
  • 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
[email protected]
License: CA 02115272

Craig Elster
Vice President Investments
Director, Net Leased Properties Group
(949) 419-3223
[email protected]
License: CA 01958307

Ron Duong
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643

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