Saturday, September 27, 2014

HFF closes $62 million sale of western Chicago Class A office building


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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