ROC Inc. has acquired the former Cisco Systems property, an office/industrial flex property located at 1251 Frontenac Road in Naperville.
Located on 2.65 acres with an adjoining three acre buildable lot, the property was acquired by Cisco Systems through the acquisition of Scientific Atlantic in 2010. Cisco has since consolidated operations and subsequently vacated the building in August 2012. ROC Inc. purchased the 44,026-square-foot building from Cisco Systems and intends to reposition the property within the market.
“Upon completing our market due diligence we realized that this property presented a unique investment opportunity,” said Michael Siurek, president of ROC Inc. “We were able to acquire the building and adjacent land at a discount from its replacement cost, which will enable us to make modernizing renovations to the property and provide our investors with a solid return on their investment.”
ROC Inc. is planning a series of capital improvements for the vacant property including the construction of four new docks and two additional drive-in doors.
“The three acres of vacant land adjacent to the building afford us a number of opportunities for further expansion or new development,” Siurek said. “It also enabled us to add new docks and drive-ins, which is something that other buildings within the park do not have the ability to do.”
The space will be brought to the market by ROC Inc. which has selected Brendan Hill and Adam Stokes from Nicolson, Porter & List as the exclusive listing agents. The flex building is currently designed for one user, but has the ability to be subdivided for multiple tenants.
