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| Jaime Fink |
CHICAGO, IL – HFF announced it has closed the $62 million
sale of Highland Landmark II, a 284,278-square-foot Class A office
building in Downers Grove, Illinois.
HFF marketed the property on behalf of
the seller, GLL Real Estate Partners.
The asset was purchased by James Campbell Company LLC, which was advised
by Colony Realty Partners, for $62 million free and clear of existing debt.
Highland Landmark II is located in the western Chicago
suburb of Downers Grove at 3025 Highland Parkway. The eight-story building is situated on 11.03 acres at the
northeast end of Highland approximately 21 miles west of downtown Chicago.
The Energy Star-labeled property features an atrium,
conference facility, cafe, surface and covered parking and fitness center. Highland Landmark II is 94 percent leased to
14 tenants, including NSA Media, Microsoft Corporation, Principal Life Insurance
Company, Ford Motor Company, Yang Ming, Property & Liability Research
Bureau and Management Association of Illinois.
 |
| Jeff Bramson |
The HFF investment sales team representing the seller was
led by senior managing directors Jaime Fink and Jeff Bramson and
managing director Mark Katz.
“Highland Landmark II offers the opportunity for James
Campbell Company, which is advised by Colony Realty Partners, to purchase one
of the top office buildings in all of suburban Chicago,” Katz said. “Highland Landmark II has consistently
outperformed the overall suburban office market. This is truly a best-in-class office asset, which is consistent
with the purchaser’s long term ownership strategy.”
GLL Real Estate Partners GmbH (GLL) is a Munich-based real
estate fund management group with $7 billion under management.
Formed in 2000 as a joint venture between
Lend Lease Corporation and Italian insurance giant Assicurazioni Generali, GLL
is now majority owned by its management team.
GLL currently manages 15 funds employing varying property strategies and
investing throughout Western Europe, central Eastern Europe, South America and
the United States. From offices in
Munich, Luxembourg, Budapest, Santiago de Chile, Mexico City, New York, Orlando
and San Francisco, GLL serves an investor group that includes pension funds,
insurance companies and sovereign entities.
 |
| Mark Katz |
The James Campbell Company LLC is a private, Hawaii-based
and nationally diversified real estate company with properties in Washington,
D.C. and 16 states across the U.S.
In
2007, the James Campbell Company succeeded the Estate of James Campbell, a
107-year-old private trust that was the legacy of one of Hawaii's foremost
business pioneers. For more
information, visit jamescampbell.com.
Colony Realty Partners (CRP) is a privately held real estate
investment company that acquires and manages commercial real estate properties
on behalf of many of the world's leading institutional investors, including
pension funds, public corporations, endowments, sovereign wealth funds and
family trusts.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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