Podolsky Arranges Sale of High Image Flex Building in Aurora, IL
Podolsky Northstar Arranges Sale of High Image Flex Building in Aurora, IL;
Represents Jefferson-Pilot Investments in Fifth Sale in Two Years
Representing building ownership, Adam J. Tarantur, Principal, and Randy D. Podolsky, SIOR, Managing Principal, both with Podolsky Northstar CORFAC International, have completed the sale of a flex building located at 3600 Thayer Court in Aurora, IL.
The 69,630 sq. ft. single story building, located 5 miles from the 4-way interchange at I-88 and Route 59, can serve as a single- or multi-tenant facility. It was 7% leased at the time of sale.
The building features two exterior docks, three drive-in doors, 18-foot clear ceilings and heavy power. Other amenities include a T1 fiber infrastructure, and an existing research and development infrastructure.
Podolsky Northstar, in addition to being the exclusive marketing agent for the building since it went into foreclosure in early 2010, also provided professional property and asset management services to ownership, Jefferson-Pilot Investments (JPI).
“Our ongoing relationship with Jefferson-Pilot, which was borne from our initial work as receiver, has afforded us the opportunity to showcase the breadth and depth of our myriad commercial real estate services” stated Podolsky.
“The asset was sold at a price that JPI found acceptable, and at which the buyer could realize upside through capital investment in the property,” added Tarantur.Other JPI-owned properties for which Podolsky Northstar has completed sales in the past year include:
• a 19,920-square-foot industrial building located at 554 Territorial Drive in Bolingbrook, IL, which was acquired by Universal Laminating & Converting, and
• a 43,681-square-foot building located at 7330 Madison Street in Willowbrook, IL, which was sold to a German private equity firm.