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Fox Valley // I-88 Corridor Industrial Market Report Q2

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Fox Valley // I-88 Corridor Industrial Market Report Q2 9450 W. BRYN MAWR AVENUE, SUITE 550 ROSEMONT, ILLINOIS 60018 Visit us at www.lee-associates.com LOCAL EXPERTISE. NATIONAL REACH. WORLD CLASS. 51,277 SF For Lease in Naperville, IL 2019 FOX VALLEY // I-88 CORRIDOR INDUSTRIAL MARKET REPORT Q2 Check Out Our Re-Vamped Website! www.lee-associates-foxvalley.com How Can We Help You? THINKING OF SELLING? Call us for a Property Valuation Report EXPANDING/REDUCING PROPERTY SIZE? Call us for a Detailed Market Evaluation LEASE EXPIRING WITHIN NEXT 2 YEARS? Call us for Lease Negotiating or Relocation Assistance NEED SHORT-TERM SPACE? Call us for Available Properties NEED ADDITIONAL CAPITAL FOR BUSINESS? Call us to Discuss Sale-Leaseback Opportunities ANDREW BLOCK NICHOLAS EBOLI SENIOR ASSOCIATE EXECUTIVE VICE PRESIDENT 630.926.7649 630.567.7812 [email protected] [email protected] 9450 W. Bryn Mawr Avenue, Suite 550 | Rosemont, IL 60018 | 773-355-3000 | www.lee-associates.com BataviaFOX | Elburn VALLEY | Geneva | St. Charles |SUBMARKET West Chicago | Winfield KEY STATS Industrial Base 38,080,326 YTD New SF Delivered 367,692 Q2 Net Absorption 383,073 Vacancy Rate 4.75% SF Under Construction 1,121,701 YTD Net Absorption 575,927 Vacancy & Absorption Available by Size Available by City 16 800.0 8% St. Charles Oth ers 14 20% 16% 7% 600.0 14 6% 12 SF) 400.0 Vacancy 5% 10 11 200.0 4% 8 9 Rate 3% 8 0.0 Net A bsorption West Chicago (in thousands 6 2% 6 23% -200.0 1% 4 Batavia 41% -400.0 0% 2 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 0 Net Absorption Vacancy r at e 20k to 50k 50k to 100k 100k to 150k 150k to 200k 200k & Up AVAILABLE PROPERTIES Asking Price Asking Price Available Months on Available Months on Location Lease Rate Location Lease Rate Space Market Space Market Sale Price Sale Price BATAVIA SAINT CHARLES $6.75 NET 3654-3668 Swenson 19,962 SSF 1141 N Raddant Rd 1 Month 19,980 SF Call For Details 4 Months $1,576,998 Avenue $5.95 NET $3.95 NET 28,880 SF 1425 Nagel Blvd 10 Months 105,000 SF 620 Stetson Ave 41 Months $2,700,000 $6,195,000 123,000 SF 1020 Olympic Dr Call For Details 2 Months 146,959 SF 3940-3950 Stern Ave $4.25 NET 19 Months 274,400 SF 101-121 N Raddant Rd Call For Details 8 Months $3.75 NET 496,000 SF 601-605 Kingsland Dr 12 Months $21,000,000 GENEVA $6.75 MG 17,577 SF 2633 Kaneville Ct. 2 Months $1,194,455 WINFIELD 265,550 SF North Ave & Morton Rd Call For Details 6 Months WEST CHICAGO = Lee & Associates Exclusive Listing = Time on Market: 11-20 Months 73,958 SF 1645 Downs Dr $3.95 NET 4 Months 200,000 SF 1700 Harvester Rd $4.75 MG 19 Months = Time on Market: 0-10 Months = Time on Market: 21+ Months 303,601 SF 2525 Enterprise Cir Call For Details 8 Months OTHER Notable Deals in the Market STATUS TENANT/BUYER ADDRESS CITY COMP SF TYPE/PRICE ACTUAL SALE PRICE Sold Package Printing Specialists 3915 Stern Ave St. Charles 23,226 SF New $1,253,500 ($54 PSF) Leased Convenient Concepts 1717 Harvester Rd West Chicago 286,622 SF New Leased Power Packaging 1100 N Raddant Rd Batavia 59,460 SF New Institutional Transactions STATUS TENANT/BUYER ADDRESS CITY COMP SF TYPE/PRICE ACTUAL SALE PRICE Sold Value Industrial Partners 245 W Roosevelt Rd West Chicago 274,000 SF* Investment $12,631,305 ($46 PSF) *14 Building Portfolio Sold Midwest Industrial Funds 1020 Olympic Dr Batavia 123,000 SF Distressed $3,400,000 ($27 PSF) Sold Cabot Properties 1047-1051 Douglas Rd Batavia 124,800 SF Investment $7,950,000 ($64 PSF) Sold New Mountain Capital 95 N 17th St St. Charles 238,401 SF Investment $17,000,000 ($71 PSF) 9450 W. Bryn Mawr Avenue, Suite 550 | Rosemont, IL 60018 | 773-355-3000 | www.lee-associates.com Aurora | Lisle | MontgomeryI-88 | NapervilleCORRIDOR | North Aurora | Oswego SUBMARKET| Sugar Grove | Warrenville | Yorkville KEY STATS Industrial Base 65,778,136 YTD New SF Delivered 488,545 Q2 Net Absorption 423,631 Vacancy Rate 5.19% SF Under Construction 1,266,591 YTD Net Absorption 294,679 Available by City Available by Size Vacancy & Absorption 40 1,400.0 7% Naperville 18% 35 1,200.0 6% 35 Montgomery 30 1,000.0 5% 12% Vacancy 25 26 800.0 4% 20 600.0 3% Rate North Aurora 15 Au ro ra Net A bsorption 400.0 2% 5% (in thousands SF) 60% 14 10 13 Os wego 200.0 1% 2% 5 7 0.0 0% Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Oth e rs 0 3% 20k to 50k 50k to 100k 100k to 150k 150k to 200k 200k & Up Net Absorption Vacancy r at e AVAILABLE PROPERTIES Asking Price Asking Price Available Months on Available Months on Location Lease Rate Location Lease Rate Space Market Space Market Sale Price Sale Price NORTH AURORA LISLE 115,487 SF 251-261 Airport Rd $5.25 NET 22 Months $6.25 NET 25,913 SF 4810 Venture St 16 Months $1,710,000 180,00 SF 102 N Overland Dr $5.50 MG 40 Months SUGAR GROVE 14,062 SF 700 Heartland Dr $7.50 MG 13 Months OSWEGO $4.50 NET 40,510 SF 19 Stonehill Rd 26 Months $2,150,000 $6.25 MG 49,214 SF 120 Kendall Point Dr 31 Months MONTGOMERY $1,995,000 $8.50 MG 13,100 SF 1551-1561 Aucutt Rd 10 Months $1,113,500 100,000 SF 2000 Aucutt Rd $5.50 MG 6 Months AURORA 80,640 SF 1600 Sequoia Dr Call For Details 1 Month NAPERVILLE 116,705 SF 1998 Melissa Ln Call For Details 10 Months 23,979 SF 2012 Corporate Ln $5.75 NET 14 Months 184,851 SF 898 Meridian Lake Dr Call For Details 25 Months 100,318 SF 1748 W Jefferson Ave Call For Details 20 Months 200,200 SF 4394 Liberty St Call For Details 48 Months 131,040 SF 540 Frontenac Rd Call For Details 9 Months 248,720 SF 1835 W Jefferson Ave Call For Details 8 Months OTHER Notable Deals in the Market STATUS TENANT/BUYER ADDRESS CITY COMP SF TYPE/PRICE ACTUAL SALE PRICE Leased Wholesale Interiors 2805 Duke Pky Aurora 549,588 SF Sublease Leased Eby Brown 1998 Melissa Ln Aurora 55,949 SF New Leased Direct Aero Systems 2680 Diehl Rd Aurora 34,607 SF New Leased Westbrook Management 1748 W Jefferson Ave Naperville 40,110 SF New Leased Noon Whistle Brewing 1748 W Jefferson Ave Naperville 28,800 SF New Lee & Associates of Illinois | Industrial Market Report | 2q2019 FOX VALLEY // I-88 CORRIDOR INDUSTRIAL MARKET REPORT SECOND QUARTER 2019 RECENT Broker Transactions SOLD! FULLY LEASED! LEASED! 50,298 LEASE 60,636 SF SALE 57,725 SF RENEWAL (LEASE) 1200-1250 Douglas Road - Batavia 801 North Commerce Street - Aurora 1745 Wallace Avenue - St. Charles L&A is pleased to have represented the Landlord on L&Ais pleased to have represented the Seller on this L&A is pleased to have represented the Tenant on this this lease. sale. renewal. LEASED! LEASED! LEASED! 14,218 SF LEASE 69,600 SF RENEWAL (LEASE) 11,995 SF RENEWAL (LEASE) 1310 Washington Street - West Chicago 1735 Wallace Avenue - St. Charles 2640 White Oak Circle - Aurora L&A is pleased to have represented the Tenant on this lease. L&A is pleased to have represented the Tenant on this renewal. L&A is pleased to have represented the Tenant on this renewal. UNDER CONTRACT! ANDREW BLOCK NICHOLAS EBOLI SENIOR ASSOCIATE EXECUTIVE VICE PRESIDENT 630.926.7649 630.567.7812 [email protected] 25 ACRE SALE [email protected] DuPage Business Center - West Chicago LEASED! L&A is representing the prospective purchaser for this 25 AC land site in the DuPage Business Center. AVAILABLE Exclusive Listings (July 2019) 28,800 SF FOR LEASE 13,100 SF FOR SALE / LEASE 20,302 SF FOR LEASE 3625 Swenson Avenue - St. Charles 1551-1561 Aucutt Road - Montgomery 401-431 Raddant Road - Batavia 30,312 SF FOR SALE/LEASE 51,277 SF FOR LEASE 93,429 SF FOR LEASE 2290 WHITE OAK 2290 White Oak Circle White Oak Business Park CIRCLE, LLC Aurora, IL 60502 ±70,000 SF Build-to-Suit 64 30W196 Calumet Drive - Warrenville 1674 Frontenac Road - Naperville 1670 Frontenac Road - Naperville 70,000 SF FOR SALE 65 ACRES FOR SALE 9.24 ACRES FOR SALE SITE I-88 RAIL SERVED! 2290 White Oak Circle - Aurora Kautz Road & Geneva Drive - Geneva 1225 Douglas Road - Batavia FRONT ENTRANCE Union Pacific West Chicago Yard PREPARED BY: 860 lively boulevard elk grove village, illinois 60007 p: 847.593.5010 f: 847.593.5012 www.dhausarch.com proj: 19.059 THIS(THESE) PLAN(S) IS(ARE) SCHEMATIC/NOT FOR CONSTRUCTION AND HAS BEEN PREPARED BASED ON PRELIMINARY SCOPE OF WORK PROVIDED BY OTHERS. EXTENT OF FIELD VERIFICATION AND/OR CODE ANALYSIS HAS BEEN PERFORMED PURSUANT TO EXTENT OF SERVICES RETAINED BY CLIENT. FLOOR AREAS AND DIMENSIONS ARE ROUNDED TO ± 6". NO EXPRESS REPRESENTATION IS MADE NOR IS ANY TO BE IMPLIED AS TO THE ACCURACY THEREOF, date: 04.22.19 AND THE PLAN SUBMITTED9450 IS SUBJECT TO ALL GOVERNING REGULATORY CODES. THESEW. DRAWINGS ARE PROTECTED UNDERBryn SECTION 102 OF THE COPYRIGHT ACT, 17 U.S.C. DRAWING Mawr COPYRIGHT © 2019 DESIGNHAUS, INC. Avenue, Suite 550 | Rosemont,rev: 2 IL 60018 | 773-355-3000 | www.lee-associates.com.
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