Transwestern Represents Buyer in Off-Market Sale of Value-Add Building
February 06, 2020
AURORA, ILL. – Transwestern Commercial Services (TCS) today announces it brokered the off-market sale of 2350 Prospect Drive in Aurora, Illinois. The 110,355-square-foot property was purchased by Black Creek Group, a Denver-based real estate investment management firm. Executive Vice Presidents Justin Lerner and Joe Karmin provided acquisition services on behalf of Black Creek Group.
The single-story, precast concrete building offers 38-foot ceilings and is currently fully leased by a transportation and logistics provider.
“Transwestern was happy to partner with Black Creek on this off-market opportunity to acquire a Class A building,” said Lerner. “The building’s above-market clear height, dock ratio and location made it a great fit for Black Creek. Additionally, Aurora is an ideal target for investors to consider for a variety of reasons, including its proximity to Eola Road and Interstate 88.”
In 2019, the I-88 Corridor industrial market saw more than $265 million in sales volume for industrial properties. The town of Aurora experienced most of this investment activity, with more than $205 million in industrial sales.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
ABOUT BLACK CREEK GROUP
Black Creek Group is a leading real estate investment management firm that has bought or built over $20 billion of investments throughout its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has seven offices across the United States with approximately 300 professionals. More information is available at blackcreekgroup.com.