Aurora office complex sold for $5.4 million

AURORA - Bradford Allen Realty Services announced that Dan O'Neill and Ryan Moen of the Oak Brook office have completed the sale of a 45,869 square foot office complex at 4222 Meridian Parkway in Aurora.

The sale was valued at $5.4 million. The seller was BCL Meridian Parkway LLC for the properties at 4222, 4234 and 4248 Meridian Parkway, a 45,869 square-foot single story office park. The properties are home to several prominent tenants including Dyson's U.S. Call Center, Woodruff Johnson & Palermo and Medallion Media Group.

O'Neill stated that the selling price of $116 per square foot for a nonmedical single story office complex should be viewed as another step toward full post-recession recovery for the area.

"With so many of the Class A suburban mid to high rise office buildings in coveted markets having traded in the past few years, we are starting to see capital searching for an alternative. Class A single story office is getting a lot of that attention."

The complex, at over 95 percent leased, was purchased by HJH Dyson 1 LLC. This property is the first purchase for HJH Dyson 1 LLC in the Chicago area. Based in Kansas, the buyers were drawn to the complex for numerous reasons, including its convenient location off Route 59, which serves as a major thorough fare through the area according to Moen. With over 300,000 residents located between Aurora and Naperville there is a large workforce to pull from, this coupled with a multitude of surrounding amenities made the buildings an attractive investment opportunity.