NAPERVILLE, IL – ROC, Inc. is pleased to announce that the firm has acquired the former Cisco Systems property, an office/industrial flex property located at 1251 Frontenac Road in Naperville, Illinois.
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 last week 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, both of which are product offerings unavailable at neighboring properties.
“The three acres of vacant land adjacent to the building afford us a number of opportunities for further expansion or new development,” added Siurek. “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.
About ROC, Inc.
ROC, Inc., based in Naperville, Illinois, provides financial investors an opportunity to invest directly in income producing real estate. Focused on the needs of its investors, ROC, Inc. is committed to delivering investments yielding above average returns. Since the late 1980’s the firm has established a track record of astute acquisition, re-development, management, leasing and disposition of under-performing properties throughout greater Chicagoland. For more information visit www.roccompanies.com.