HFF named to market for sale 428-unit Schaumburg, IL multi-housing community

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale The Lakes of Schaumburg (top left photo) , a 428-unit multi-housing community in Schaumburg, Illinois.

HFF managing directors Marty O’Connell (top right photo)  and Sean Fogarty (top left photo)  and executive managing director Matthew Lawton (middle right photo) will lead the investment sales team on behalf of its client, Cornerstone Real Estate Advisers LLC.

 The property is listed without a formal asking price free and clear of existing debt.

The Lakes of Schaumburg is located at 801 Belinder Lane near Interstates 90 and 290, O’Hare International Airport and two Metra commuter rail lines in the northwest Chicago suburb of Schaumburg.

The property has one- and two-bedroom units averaging 800 square feet each and the current occupancy is over 95%.

Residents have access to two clubhouses offering a business center, coffee/tea bar, fitness center and weight room as well as two outdoor heated swimming pools, two sand playgrounds, extensive beautiful landscaping including three fountain ponds and a jogging/bike trail.

“The Lakes of Schaumburg is ideally positioned in one of the area’s most desirable and historically highest performing submarkets,” said O’Connell.

 “There has also been minimal construction in the Schaumburg area. The last community to be built was in 1990, making communities such as The Lakes of Schaumburg, which has been extensively renovated, one of the very finest communities for renters in the area.”

Contacts:

Martin F. O'Connell, HFF Managing Director, (312) 528-3650, moconnell@hfflp.com
Sean P. Fogarty, HFF Managing Director, (312) 528-3650, sfogarty@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,  krmurphy@hfflp.com


HFF arranges refinance of GSA-leased facility in Houston

HOUSTON, TX – The Houston and Dallas offices of HFF(Holliday Fenoglio Fowler, L.P.) have arranged a financial joint venture for Southwest Science Center (middle left photo) , a 34,277-square-foot facility fully leased to the General Services Administration (GSA) in Houston, Texas.

HFF senior managing directors Dan Miller (middle right photo below Matthew Lawton photo) and Mona Carlton (middle left photo beneath GSA property photo)  and real estate analyst Trent Agnew represented the owner, Live Oak Gottesman Company, an Austin, TX-based full-service real estate firm.

A private real estate group entered into a joint venture with the owner and assumed existing debt as part of the agreement. HFF arranged another financial joint venture on behalf of Live Oak Gottesman in January for another GSA-leased facility in McAllen, Texas.

Southwest Science Center, located at 4150 Interwood South Parkway, is situated on nearly six acres near the Sam Houston Tollway and George Bush Intercontinental Airport in a 440-acre master-planned, mixed-use development called Interwood.

The building is a state-of-the-art forensics laboratory that was developed and constructed for U.S. Customs & Border Protection.

Contacts;

H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com
 Mona K. Carlton, HFF Senior Managing Director, 214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, ( (713) 852-3500, krmurphy@hfflp.com


HFF named to market for sale a super-core trophy retail project adjacent to Woodfield Mall in Schaumburg, IL

CHICAGO, IL – The Chicago and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have been named to market for sale The Streets of Woodfield, a 711,402-square-foot, super-core retail project in Schaumburg, Illinois.

HFF directors Kenneth Glomb and Daniel Kaufman, along with senior managing directors Matthew Lawton, Jim Batjer and Barry Brown,  will market the property exclusively on behalf of the ownership.

The Streets of Woodfield is 98% leased on a long-term basis, and anchored by Carson Pirie Scott, Dick’s Sporting Goods, Crate & Barrel and Whole Foods Market. The Streets of Woodfield also includes a 20-screen AMC Theatre and the U.S. flagship store for LegoLand Discovery Center. The property is located at 601 North Martingale Road immediately adjacent to Woodfield Mall, (bottom left photo) a 2.2 million-square-foot super regional mall.

“The center features a dynamic, thoroughly modern architectural design, which appeals to the area’s sophisticated shopper base; and the open-air circulation allows excellent visibility into the project from Interstate 290 at the entrance to Woodfield Mall,” said Glomb.

“The Streets of Woodfield is a well-seasoned retail landmark in suburban Chicago which sits at a main-and-main location adjacent to one of the nation’s top 25 super regional malls. The center’s A+ retail location, outstanding / productive tenant mix, and upside potential are highly coveted by retail real estate investors today,” said Kaufman.

“The trade area offers retailers an exceptional demographic base featuring 270,000 people within a five-mile radius of the property and an $87,000-plus average household income.

Approximately 250,000 cars per day travel past The Streets of Woodfield on I-290 and Higgins Road.

 As a result of the area’s outstanding demographic characteristics, the Woodfield Mall submarket is a tier-one location for retailers doing business in the United States and The Streets of Woodfield is a first stop location for those retailers.

The property’s retail tenants report consistently high sales including top 10% of chain performance for a number of the retailers, and Whole Foods’ recent addition and long-term commitment to the center further demonstrates the strength of this location and the appeal of The Streets of Woodfield,” added Glomb.

Contacts:
Kenneth J. Glomb, HFF Director, (312) 528-3650, kglomb@hfflp.com
Daniel A. Kaufman, HFF Director, (312) 528-3650, dkaufman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com