TurnKey Network Solutions
1806 Hangemann Drive Batavia , IL 60510

TurnKey Network Solutions - industrial for sale

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Overview



JLL is pleaJLL is pleased to offer for sale the fee-simple interest in a NNN single tenant industrial Asset (the “Property” or “Asset”) leased to Fiber Optic Management, LLC (the “Tenant”) d/b/a Turnkey Network Solutions. The Asset is located in the 1,300-acre Batavia Business Park that has close to 10 million SF of industrial space and located within the city limits of Batavia, IL (Chicago MSA). The investment presents the opportunity to acquire an industrial Asset with a strong workforce due to the unparallel Chicago demographics, but at a cheaper cost due to lower expenses and taxes being located in Kane County, Illinois compared to Cook County (Chicago Proper).sed to offer for sale the fee-simple interest in a NNN single tenant industrial Asset (the “Property” or “Asset”) leased to Fiber Optic Management, LLC (the “Tenant”) d/b/a Turnkey Network Solutions. The Asset is located in the 1,300-acre Batavia Business Park that has close to 10 million SF of industrial space and located within the city limits of Batavia, IL (Chicago MSA). The investment presents the opportunity to acquire an industrial Asset with a strong workforce due to the unparallel Chicago demographics, but at a cheaper cost due to lower expenses and taxes being located in Kane County, Illinois compared to Cook County (Chicago Proper).

Investment highlights



NET LEASE WITH ANNUAL RENTAL INCREASES AND RARE OUTDOOR STORAGE

The Tenant is on a NNN lease with 2.5% annual rental increases and landlord responsible for replacement of some capital costs

The Tenant is responsible for all repairs and maintenance associated with capital expenses as well as all other operating expenses, real estate taxes and utilities

The Asset rental rate reflects the strong demand for state of the art buildings with significant outdoor storage which is becoming increasingly difficult to entitle and underwrite for development

GROWING TENANT WITH SERVICE CONTRACTS TO NATIONAL PROVIDERS

Turnkey Network Solutions is a Tier I vendor in the five-state Midwest region for AT&T

Headquartered in Grand Rapids, MI, Turnkey expanded to the state of Illinois in 2007 and has laid over 2,000 miles of buried Fiber to home networks and has completed over 6,000 service entrances

The increased use of broadband internet and the growing popularity of the internet of things (IoT) has created demand for high-performing telecommunications infrastructure

The global wireless telecom infrastructure market is expected to grow 5.7% from 2018 to 2025

COVETED INDUSTRIAL MARKET WITH MULTIPLE MODES OF TRANSPORTATION

The Asset is located in the 1,300-acre Batavia Business Park with over 9.9 million SF of industrial space and home to many national tenants

Over 5.6 million SF of industrial space with a 1.0% market vacancy within a 1-mile radius of the Asset

Adjacent to the world-class 800-acre DuPage Business Center (owned by the nearby DuPage Airport) designed for top-of-the line technological-advanced warehouses, data centers, medical facilities and other industrial users

The Center was originally awarded a $34 million grant for roads, utilities and landscaping

The center has 7 projects currently under construction, and 70% of the Business Center is currently filled

The BNSF Railroad runs thru the Batavia Business Park

Located 2 miles from the DuPage Airport with 4 active runways, over 400 based aircraft and has a $279 million annual economic impact on the local economy

6 miles to Interstate 88; 7 miles to the Interstate 88/Route 59 interchange

LESS EXPENSIVE REAL ESTATE TAXES WITHIN CHICAGO MSA

The Asset sits on over an acre of land in Batavia, IL (Chicago MSA) which is located in Kane County

Kane County offers an ideal location, key transportation routes, strong labor workforce, with low county taxes and operating costs compared to Cook County, where a majority of Chicago is located

General
Property type Industrial
Tenure type Sale/Purchase
Property address 1806 Hangemann Drive, Batavia, IL 60510
Land in acres 1.06
Building size 5,500  ft2
Year built 2000
Financial
Price $1,000,000
Cap rate 7.15%
Current NOI $71,500.00
Lease
Tenant's name Fiber Optic Management, LLC
Lease type NNN
Annual rent $71,500.00
Lease expiration date 02/29/2024
Remaining term 4.3Yrs

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