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2805 Duke Pkwy, Aurora, IL,...

Follett Corporation Leases 551200 Square Feet At 2805 Duke Pkwy In Aurora With Colliers International
LEASEDIndustrial

Follett Corporation Leases 551200 Square Feet At 2805 Duke Pkwy In Aurora With Colliers International

2805 Duke Pkwy, Aurora, IL, 60502

Building Size

551,200 SF

Asset Type

Industrial

Closing

Aug 6, 2019

AI

The property involved in this transaction is located at 2805 Duke Parkway, Aurora, Illinois, 60502. It is a full-building sublease measuring 551,200 square feet and is owned by Duke Realty. The facility features a cross-docked layout, a 32-foot clear height, 74 dock doors, four grade-level drive-in doors, 73 trailer parking positions, and 153 car parking spaces. Additionally, it includes 25,000 square feet of office space and offers immediate access to two four-way interchanges along I-88 at Eola Road and Route 59.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 2805 Duke Pkwy, Aurora, IL, 60502
  • Market: Aurora
  • Landlord: Follett Corporation
  • Landlord's Representatives: Brian Kling - Colliers International Chicago, Christopher Volkert - Colliers International
  • Tenant: Wholesale Interiors
  • Square Feet: 551,200

Colliers International's Christopher Volkert, SIOR, and Brian Kling represented Follett Corporation in this significant three-year lease transaction to Wholesale Interiors, a supplier and distributor of commercial, hotel, and restaurant furniture. The move will see Wholesale Interiors expanding its operations from Bensenville, Illinois, indicating continued demand in the I-88 Corridor and a draw toward the modern warehouse offerings in DuPage County.

Players

Brian Kling

Colliers

Broker

4 deals

Broker

Aurora Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93