Wednesday, March 13, 2013

HFF closes $23.5 million sale of Greenspoint Office Park in suburban Chicago



Greenspoint Office Park, Hoffman Estates, IL
CHICAGO, IL – HFF announced today that it has closed the sale of Greenspoint Office Park, a three-building, Class A office portfolio totaling 498,635 square feet in Hoffman Estates, a northwest suburb of Chicago.

                HFF marketed the portfolio on behalf of the seller, Multi-Employer Property Trust (“MEPT”).  

Bentall Kennedy acted as advisor to the seller.  LPC Realty Advisors, on behalf of a pension fund client, purchased the assets for $23.5 million free and clear of existing debt.

Jeff Bramson
                Greenspoint Office Park is comprised of Barrington Pointe (148,385 square feet), Greenspoint I (202,838 square feet) and Greenspoint III (147,412 square feet).  53 percent leased overall, notable tenants include Vistex, Inc., Siemens, Arcadis, U.S., Inc. and Kimberly-Clark. 

Jaime Fink
The properties are located at 2300 North Barrington Road, 2800 West Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road in the northwest suburban market. 

                The HFF investment sales team representing MEPT was led by senior managing directors Jeff Bramson and Jaime Fink and director Mark Katz.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com


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