KTR Capital Partners has announced that an affiliate closed on the acquisition of 2605 and 2640 White Oak Circle located in Aurora, within the Fox Valley/I-88 Corridor submarket of Chicago.
The two Class A shallow bay, rear-load distribution buildings, totaling 108,852 square feet, were built in 1998 and feature pre-cast construction. 2605 & 2640 White Oak Circle are high quality, functional, multi-tenant buildings located in a business park setting.
The assets are located within a quarter mile west of the new full interchange at Eola Road and I-88, a major east-west interstate that connects Chicago and the northern and central Chicago suburbs with the Quad Cities area. The location is proximate to the I-355 interchange, which provides north-south access to the Central Dupage, O’Hare and I-55 submarkets as well as every other major Chicago transportation artery.
“The purchase of 2605 & 2640 White Oak Circle is a compelling, off-market opportunity for KTR to acquire two Class A facilities in a highly desirable institutional submarket,” said Ryan Stoller, vice president of Investments for KTR. “The building features are aligned with one of the strongest segments of a rapidly improving I-88 Corridor submarket and we anticipate being able to reach full occupancy in a timely fashion.”
David Prioletti of CBRE represented the seller in this transaction.
This acquisition brings KTR’s total portfolio in the Chicago market to approximately 12 million square feet.
