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| Corridors Office Complex, Downers Grove, IL |
CHICAGO, IL – HFF announced today that it has been selected
to market the sale of Corridors I and II, a two-building, Class A office portfolio totaling 299,792
square feet in Downers Grove, Illinois.
HFF is marketing the property on behalf of the seller, LNR
Partners, LLC, for an undisclosed amount free and clear of debt.
Corridors I & II are located at 2651 and 2655
Warrenville Road adjacent to the East-West Tollway (Interstate 88) and
North-South Tollway (Interstate 355) intersection, approximately 25 miles west
of downtown Chicago.
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| Jaime Fink |
The five-story buildings were completed in 1998 and
1999.
Corridors I is 76 percent leased
to tenants including AIU, Revenue Cycle Solutions and Ameriquest. Corridors II is 26 percent leased to
AIU. The property also includes a total
of 1,457 garage and surface parking spaces.
The HFF investment sales team representing the seller is led
by senior managing directors Jaime Fink and Jeff Bramson and director
Mark Katz.
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| Jeff Bramson |
“Corridors I & II presents investors with a unique
opportunity to acquire very well-located, Class A office buildings that are
less than 15 years old in a desirable suburban market. There have been limited value-add
opportunities that have availed themselves recently in the East-West Corridor
that presented a pure lease-up situation such as this,” commented Fink.
LNR Partners, LLC (“LNR”) is the world's largest commercial
mortgage special servicer. LNR is the
industry leader in commercial loan workouts with market-leading due diligence
and underwriting processes and extensive knowledge of credit fundamentals that
enable the company to secure the maximum resolutions in the shortest amount of
time for its investors.
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| 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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