Chicago, IL — Venture One Real Estate broke ground on a 180,121 square-foot manufacturing and corporate headquarters facility for AJR Filtration at 1200 Equity Drive in St. Charles, IL.
A development of Venture One Real Estate, the AJR facility is part of East Kirk Commerce Center in St. Charles, a 33 acre development located at the northeast corner of the intersection of Kirk Road and Division Street. A three-year tax abatement program was secured from local governmental entities by the developer. Meridian Design Build will serve as the design builder and Ware Malcomb will act as the architect on the project. PNC Bank will provide the construction funding.
AJR Filtration is a leading manufacturer of quality engineered dust and liquid filter bags, cartridges and pleated bags. Every filter product they sell is made in their St. Charles, Illinois facility. AJR is rapidly growing and this expansion will give them increased manufacturing capacity that will allow them to create 150 new jobs in the City of St. Charles. Michael Marconi, SIOR and Bradley Migdal of Transwestern Represented AJR Filtration in the transaction. . The facility is set to be completed in the summer of 2016. Venture One has planned a 276,920 square-foot warehouse / distribution building on the adjacent 18 acre site. The pre-cast 32’ clear building will feature 40 loading docks, ESFR sprinklers, 56 trailer spaces and parking for 240 cars. The site is in close proximity to the DuPage County Airport, has an excellent labor pool and low Kane County taxes.
Michael Marconi and Joe Karmin of Transwestern have been hired to market East Kirk Commerce Center for Venture One. For more information park development, please visit www.eastkirkcommercecenter.com.
Venture One Real Estate is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Midwest and owns over 5.5 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 billion of transactional experience. For further information go to www.ventureonere.com.