Avgeris New Multi-Family Joint Venture
In March of 2012 Avgeris and Associates, Inc. joined forces with Next Generation Development, LLC and purchased 20 acres of land on the far east side of Aurora, IL. The site will be the future development of Metro59 our brand new contemporary styled multi-family rental project. This site is all about location, location, location! Just south of the Rt.59 Metra Train Station, less than a mile from Fox Valley Mall and just a short drive from downtown Naperville, Metro59 is located in the heart of everything. Still in the early stages of development, Avgeris and Associates is extremely excited about the project and expects to create a truly exclusive and exceptional rental product for the area.
Avgeris Purchases HHI-FormTech Facility
In December of 2011 Avgeris and Associates acquired the 186,443 square foot manufacturing facility in Fraser, Michigan that is 100% occupied by HHI-FormTech. The facility fits perfectly within our portfolio of assets and is home to a highly reputable tenant that we look forward to a long term relationship with. Located just 15 minutes North of Detroit we expected the continued growth of this asset.
Detroit City Apartments Rebrand
Avgeris and Associates, Inc. along with our partners Village Green have officially announced the renaming and rebranding of Washington Square Apartments to Detroit City Apartments. Located in the heart of downtown Motor City it is just seconds away from Comerica Park, Ford Field, Joe Louis Arena, Fox Theater, and the Riverfront. Detroit City Apartments is the place to live downtown. Check out further details on the Village Green link below.
New Lease with Stryker Corp.
This summer Avgeris and Associates, Inc. signed a new seven year lease with Stryker Corp. for our 1901 Romence Parkway, Portage, MI property. Stryker Corp. will be leasing approximately 25% or 100,000 square feet of our office complex. The office complex is also known as the Quads which comprises of 400,000 square feet made up of four buildings each approximately 100,000 square feet that come together within a center core. Stryker will be leasing the Northwest quadrant. Construction and renovations have already begun on the asset that will make Stryker's new space state-of-the-art and modern. We look forward to the completion of this project and developing a long term relationship with Stryker Corp. This lease will create strong future growth for this asset and we look forward to the further development of this property.
Avgeris Purchases Joliet, IL Industrial Facility
Avgeris and Associates, Inc. purchased the 623,878 square foot industial facility located at 2700 McDonough Rd. in Joliet, IL on May 5, 2011. At the time of purchase the asset was 25% leased but currently it is now 36% leased. Additionally the asset has had substantial foot traffic of which we intend to lease the entire facility up as soon as next year. The asset is located in an ideal location just minutes from I-55 and I-80 with ample docks and parking available. With many positives around this asset Avgeris and Associates envisions substantial growth in the value of this asset.
Avgeris New Joint Venture in Hammond, LA
On December 8, 2010 Avgeris and Associates, Inc. teamed up with True North investments to acquire the multi-tenant 710,604 square foot asset from Wextrust Capital. This property fits perfectly within the Avgeris portfolio of Industrial properties that already includes strong tenants with modest lease terms. The tenants include: Penske Trucking, Liquid Container, Entergy Louisana, Inc., Victory Packaging, Dupont Performance Elastomers. Avgeris and Associates, Inc. along with True North Investments are very please with the purchase and look forward to creating value within this asset.