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| The Crossings of Oak Brook, Oak Brook, IL |
CHICAGO, IL – HFF announced today that it has been named to
market for sale The Crossings of Oak Brook, a two-building,
303,510-square-foot office complex in the western Chicago suburb of Oak Brook.
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| Jaime Fink |
HFF
is co-marketing the property with NAI Hiffman on behalf of the seller, The
Davis Companies and Arthur Goldner & Associates. The asset is listed without a formal asking price free and clear
of existing debt.
The Crossings of Oak Brook is comprised of 1420 and 1520
Kensington Road, three-story properties that were renovated in 2010 and feature
151,340 and 152,170 square feet, respectively.
Building amenities
include a Bright Horizons daycare facility, a recently completed 50-person
conference center, a sundry shop, fitness center with shower and locker
facilities, and an executive café.
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| Jeff Bramson |
Overall, the properties are 90 percent leased to tenants
including Readerlink, A.M. Castle & Co., Molina Healthcare and Cbeyond Communications. The Crossings of Oak Brook is situated on
more than 16 acres close to Interstates 88 and 294, IL Route 83, Oakbrook
Center and Yorktown Center.
The
HFF team representing the seller is led by senior managing directors Jaime Fink
and Jeff Bramson and director Mark Katz. The NAI Hiffman team is led by executive
vice president Dan O’Neill.
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| Mark Katz |
“The
Crossings presents an excellent opportunity for investors to achieve outsized
equity returns with minimal future capital requirements from exceptionally
well-located, stabilized, Class A real estate,” said Katz.
The Davis Companies (www.thedaviscompanies.com),
a real estate investment, development and management firm based in Boston,
Massachusetts, was founded in 1976.
On behalf of its clients, The Davis Companies has invested
in approximately 140 properties representing over $2.5 billion in gross asset
value, and has acquired approximately $550 million of commercial loans and real
estate securities. Today,
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| Daniel B. O'Neill |
The Davis Companies, together with its affiliates, owns and
manages a real estate portfolio of approximately 10 million square feet and is
an active investor in real estate equity, debt, and fixed-income real estate
securities.
Arthur Goldner & Associates, Inc. (AGA) and its
affiliates comprise a complete and fully diversified real estate organization.
The company provides its investors, tenants, landlords and clients with
services and opportunities in all areas of the commercial real estate business.
Since 1977, AGA,
through its principals and affiliates, has successfully sponsored and acted as
General Partner and Managing Member for more than 100 real estate investment
partnerships and LLC’s. Additionally, AGA currently manages over 2.5 million
square feet of real estate valued over $250 million.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873
| www.hfflp.com
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