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Podolsky Northstar Arranges Sale of High Image Flex Building in Aurora, IL;
Represents Jefferson-Pilot Investments in Fifth Sale in Two Years

Riverwoods, Ill (August 28, 2012) — Representing building ownership, Adam J. Tarantur, Principal, and Randy D. Podolsky, SIOR, Managing Principal, both with Podolsky Northstar CORFAC International, have completed the sale of a flex building located at 3600 Thayer Court in Aurora, IL.

The 69,630 sq. ft. single story building, located 5 miles from the 4-way interchange at I-88 and Route 59, can serve as a single- or multi-tenant facility.  It was 7% leased at the time of sale.

The building features two exterior docks, three drive-in doors, 18-foot clear ceilings and heavy power.  Other amenities include a T1 fiber infrastructure, and an existing research and development infrastructure.

Podolsky Northstar, in addition to being the exclusive marketing agent for the building since it went into foreclosure in early 2010, also provided professional property and asset management services to ownership, Jefferson-Pilot Investments (JPI).

“Our ongoing relationship with Jefferson-Pilot, which was borne from our initial work as receiver, has afforded us the opportunity to showcase the breadth and depth of our myriad commercial real estate services” stated Podolsky. 

 “The asset was sold at a price that JPI found acceptable, and at which the buyer could realize upside through capital investment in the property,” added Tarantur.

The purchaser, ROC, Inc., was represented by Dave Prioletti of CB Richard Ellis.

The seller was provided legal representation by Dan Minor of Vorys, Sater, Seymour & Pease, LLP in Columbus, OH.  Daniel Kopp of Daspin & Aument LLP in Chicago provided legal representation to the purchaser.

Other JPI-owned properties for which Podolsky Northstar has completed sales in the past year include: 

• a 19,920-square-foot industrial building located at 554 Territorial Drive in Bolingbrook, IL, which was acquired by Universal Laminating & Converting, and
• a 43,681-square-foot building located at 7330 Madison Street in Willowbrook, IL, which was sold to a German private equity firm.

About Podolsky Northstar CORFAC International (www.podolsky.com):  The firm provides brokerage, tenant representation, acquisition, disposition, sale/leaseback, investment, build-to-suit development, property and facility management, and consulting services for industrial, office and investment properties. Its management portfolio includes more than three million square feet of property, primarily in the Midwest.