 |
| 165 North Randall Road, Batavia, IL |
The Oak Brook,
Ill.-based developer has also executed a lease for the property at 165 N.
Randall Road with Art Van Furniture.
The location is one of several that
Warren, Mich.-based Art Van Furniture plans to open in the Chicago area in
2013. The furniture retailer, which operates 36 stores throughout Michigan,
plans to take occupancy of the freestanding building this summer.
 |
| Tom Williams |
“It’s a great
building and location that’s been on our radar for a while,” said Tom Williams,
managing partner of Paragon Real Estate. “We were fortunate to work with a
tenant such as Art Van Furniture. In the end, we all were able to execute this
transaction due to the ease of doing business with Art Van Furniture.”
The building is shadow
anchored by a Target, and a new Chick-fil-A opened adjacent to the property in
February. The immediate area also includes a Jewel-Osco, Walmart, The Home
Depot, Kohl’s, Trader Joe’s, XSport Fitness and many other restaurants,
retailers and banks.
 |
| Greg Van Landingham |
Paragon put the
property under contract in late December 2012, executed a lease and completed
the purchase within three months. Paragon worked with Signature Bank to meet
the seller’s timing requirements and close in a short time frame. “Signature
Bank is a great partner to have. They view long-term relationships as more
important than the deal at hand.” Williams said.
Michael Havdala,
senior vice president, and Brenton Schrader, associate, of Chicago-based
HSA Commercial Real Estate represented the seller, US Bank.
Stan Bobowski and Chris Bobowski, of
Naperville, Ill.-based Bobowski Commercial Real Estate represented the tenant,
Art Van Furniture.
“Both HSA Commercial
Real Estate and Bobowski Commercial Real Estate were extremely professional,
and they demonstrated why they have a proven track record for performance and
integrity.
" We had a high degree of confidence that there were not going to be any surprises during the transaction,” Williams said.
" We had a high degree of confidence that there were not going to be any surprises during the transaction,” Williams said.
Greg Van
Landingham, managing partner of Paragon Real Estate, said Paragon is
aggressively seeking to acquire vacant land and buildings. “We have the capital
and expertise to close quickly and deliver results for our clients and
partners, whether they are large corporations, start-ups, brokers, lenders or
property owners.”
For a complete copy of the company’s news release, please
contact:
Paula Widholm,
773-726-7993
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