Cohen Financial has arranged a $4 million refinancing of an industrial corporate headquarters building located at 4215 Campus Drive in Aurora, Ill. The property totals 46,986 square-feet and houses office, laboratory and warehouse space.
Engineering Systems, Inc., a national engineering and scientific investigation and analysis firm that specializes in corporate accidents, has fully leased the property for its corporate headquarters.
Michael Grant, director of Cohen Financial in the Chicago office, secured the fixed-rate, 10-year term loan with a 20-year amortization schedule. The lender is an East Coast based life insurance company. The borrower is Campus Drive, LLC and the developer is REM Management Company, an Illinois-based developer of industrial and one-story office properties.
“Because the property is a corporate headquarters and the structure has a high-degree of finish, we faced the real challenge of a higher loan and rental per square foot,” said Mr. Grant in a released statement. “To secure the terms our client needed, Cohen Financial had to differentiate this transaction from a normal office/warehouse property deal.”
