New 50-acre corporate business park planned for suburban St. Charles
ST. CHARLES, Ill. (May 12, 2008) - Chicago-based JCF Real Estate is pleased to announce plans for The Corporate Reserve of St. Charles, a new 50-acre corporate business park that will redefine the Class-A office landscape in Chicago's suburbs.
The $100 million development will ultimately include some 600,000 square feet of office space - all within a lush, park-like setting.
Initial plans include:
- Two (2) single-story, 15,000-square-foot speculative office buildings with private exterior entryways and spaces ranging from 830 square feet to 15,000 square feet;
- One (1) three-story, 45,000-square-foot speculative office building with floor plates of approximately 15,000 square feet and spaces divisible to 500 square feet;
In addition, the park offers the opportunity for various corporate build-to-suit office parcels ranging in size from 2 to 19 acres accommodating buildings of more than 200,000 square feet. These build-to-suit parcels and other out-lots are designed to accommodate restaurant users and, potentially, a full-service hotel in addition to corporate users.
JCF successfully closed on the purchase of the land this week. Construction on the speculative office buildings is expected to begin immediately with space available for occupancy by the second quarter of 2009.
"There is a great shortage of high-end, Class-A office space located within this fast-growing area," said John J. Fitzmaurice, founder and principal of JCF Real Estate. "The Corporate Reserve of St. Charles will, for the first time, give executives and their employees the opportunity to live, work and play without ever leaving St. Charles."
The development is located roughly ½ mile west of Randall Road along Route 64 (Main Street) within minutes of a diverse array of executive-level residential communities as well as countless restaurants, shopping centers, health clubs and championship-quality golf courses as well as the historic downtown districts of St. Charles and Geneva with their charming shops and restaurants.
Additional nearby attractions like the Great Western bike trail, the Kane County Cougars baseball park, the Kane County Fairgrounds and the Pheasant Run Resort & Spa offer added appeal.
"The same characteristics that have drawn so many people to make the Fox Valley area their home also make the community a wonderfully attractive place to do business," said Steve Chrastka, vice president of leasing for JCF. "For years, executives living in the St. Charles area have endured commutes of 45 minutes or longer to their offices in Naperville, Oak Brook and Chicago. With the arrival of The Corporate Reserve of St. Charles, a world-class office park is now available just a few short minutes away."
The well-appointed office space at The Corporate Reserve of St. Charles will feature outdoor parking facilities located within steps of entryways, heated sidewalks that eliminate icing during the winter, abundant window lines, 24-hour-a-day secured key-card access and tenant finishes to suit. The office buildings are designed by the award-winning architectural firm Wright Heerema. The property will be lushly landscaped with native plantings, ponds a series of walking paths and picnic areas.
For more information on the project, visit www.thecorporatereserve.com.
JCF Real Estate is a diversified commercial real estate investment and management firm located in Chicago, Ill. Management of the firm recognize the importance of buying an asset right, and also believes value can be created at each junction in a property’s life cycle, with expert management, brokerage, construction and specialized oversight, all services the firm provides.
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MEDIA CONTACT:
Ed Fanselow
Real Estate Communications Group
efanselow@recg.com
