750 N Commons Class A Flex / Office / Industrial
Office Industrial 205,074 SF Multi Tenant
Marketing description
Illinois Broker of Record: Steven Weinstock
Marcus & Millichap
Steven.Weinstock@MarcusMillichap.com
Lic #: 471.011175
This Class A Flex property totaling 205,074 RSF is situated
on 16.37 Acres in a highly desirable logistical area. This asset is 100% occupied
and features three global tenants (Westell; Thales Defense and Security (S&P
rated A-); Sonova US) with a strong WALT of 9.25 years.
Under current ownership extensive updates and renovations have been completed
to include a modernized café, fitness facility, and outdoor common area gathering
space. In addition, the large parcel allows availability to expand in a desirable
business park. The low vacancy rate in the area has driven many new developments
on the neighboring parcels. The excellent mix of warehouse and Class A office in
this asset, along with ownership executing well in securing credible tenants, has
created a strong investment for any potential buyer.
Westell (WSTL) occupies 81,960 RSF of warehouse & office space and has effectively
become a leading provider of high-performance network infrastructure solutions
with millions of products deployed worldwide. A recently exercised 5-year lease
extension displays their commitment to this property. Westell has occupied the
building since its construction in 1997.
Thales Defense and Security ( TDSI / S&P A- rated) occupies 23,052 RSF of
Class A office space serviced by cutting edge technology to ensure efficiency
for their global business. Thales is a U.S. based company serving domestic and
international defense for over 60 years. With over 1,000 employees across three
subsidiary companies, Thales supports numerous U.S. military and multi-national
partners with key technologies including communication, visualization, electronic
warfare, and sensor/sonar capabilities. Thales has a Market CAP of $50.50B USD
and annual revenue of $20.58B USD (2024). Thales initiated a 10-year lease in
2023 and secured two additional five year options to extend.
Sonova USA (SONVY) occupies 66,611 RSF of Class A office space on a long-term
net lease. Sonova was founded in 1947 and is a leading provider of innovative
hearing care solutions around the world. Sonova primarily operates in the Hearing
Instrument and Cochlear Implant business segments. Sonova USA has a Market
CAP of $18.30B USD and revenue of $3.71B USD. Sonova originally executed a 16
year lease, displaying a long term commitment to this property. They currently
have 11 Years remaining on their initial lease term.
Investment highlights
100% OCCUPIED 205,074 SF FLEX ASSET LOCATED IN AURORA, IL
THREE MULTI-NATIONAL TENANTS AND A LONG-TERM WALT OF 9.25 YEARS
Make this an ideal asset for buyers targeting a stabilized, investment-grade credit,
institutional quality investment in a strong submarket.
AURORA, IL IS THE SECOND LARGEST CITY IN ILLINOIS
Just 40 Miles Southwest of Chicago. It is served by several highways including I-88,
I-290, IL 31, and US 30 making it easily accessible for all areas of commerce.
DIRECTLY SERVICED BY A COMMUTER RAIL LINE
(BNSF Line) providing employees at 750 Commons numerous modes of
transportation.
CLASS A BUILDING WITH RECENTLY RENOVATED AMENITIES INCLUDING:
Lobby, Fitness Center, Lounge, Café, and Conference Center.
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