Groundbreaking held for Randall Square retail and office development in North Aurora
Developer RE Development Solutions and dignitaries from the Village of North Aurora broke ground on Thursday on two buildings in Randall Square, a retail and office complex on the corner of Randall Road and Oak Street.
The buildings are part of the 15-acre development in the steadily developing Randall Road corridor with numerous residential and retail developments nearby.
The 7,800-square-foot retail building at 20-28 Randall Road will be anchored by Dunkin Donuts and offers four additional units of retail or restaurant space for lease ranging from 1,000 to 6,000 square feet near the corner which features a recently developed Casey's gas and convenience store and sees over 26,000 vehicles per day.
On the adjoining lot, 78-81 Miller Drive offers 8,000 square feet of divisible general office, medical, dental office or lab space featuring 10-foot ceilings. The developers are building a spec space in the building which will be available for immediate occupancy upon completion of the building as well as flexible unit sizes ranging from 1,100 to 8,000 square feet. It is currently being marketed for lease by JBS Commercial Real Estate. The building will offer individual exterior suite entrances, independently controlled HVAC by the tenant along with an extraordinary window line.
The projects join the two, 10,000-square-foot medical office buildings at 98 Miller Drive, which the firm developed in 2018 and 66 Miller Drive, which was developed in 2010. Both buildings are fully leased.
Construction on the two new projects has commenced with completion anticipated by the end of the first quarter of 2024. The new retail and office buildings were designed by the team at RACER/MRSA and are being built by The Way Maker Group.
"We've been successful in developing and leasing office and medical buildings on this site in the past and we see this property as an opportunity to be creative and provide a niche in-demand product, given its versatility and proximity to recent residential growth," says Ramsey Elshafei, president of RE Development Solutions. "We see lots of potential for quality development here resulting from the overall growth of North Aurora. We are also grateful to Mike Toth, business and administrative services manager, and the planning and zoning professionals at the Village of North Aurora, who have been instrumental in getting us through the process and even helping connect us with potential tenants."
In addition, RE Development Solutions has 1.31 acres of land off Oak Street and Miller Drive available for sale or build-to-suit for a quick service restaurant. The company is working with the village for the next stage of development within the property for which a 19,000-square-foot flex building is being considered.
"Growth is a vital part of any community, and it is something we here at the Village of North Aurora look to foster with our local business and residential communities. Randall Road is at the center of our town and as such developing that area is of great importance," said North Aurora Mayor Mark Gaffino. " RE Development Solutions is at the forefront of this growth with their new additions to the Randall Square Development, which will feature mixed use and retail spaces, and they are also working on a medical office space off of Miller Drive to continue the growth of clinics and doctor's offices in that corridor to offer options to North Aurora residents. We look forward to seeing their vision come to life."
RE Development Solutions in Lisle is a privately owned real estate firm that owns, develops, and manages long term office, retail and industrial assets throughout the Midwest.
Over the past eight years, the company has forged a path of continuous expansion, steadily increasing their portfolio's value and size from 250,000 square feet to a well-diversified portfolio encompassing approximately 1,500,000 square feet of prime industrial, office, and retail space.
As a full-service real estate firm, RE Development Solutions offers a comprehensive suite of services, including ownership, asset management, property management, and construction management.