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| Corporate 500, 500 Lake Cook Road, Deerfield, IL |
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| Mark Katz |
CHICAGO, IL
– Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of Corporate
500, a four-building, Class A office park totaling 697,673 square feet in
the northern Chicago suburb of Deerfield.
HFF marketed
the sale on behalf of GE Capital Real Estate.
Cornerstone Real Estate Advisers, acting on behalf of an institutional
client, purchased the asset for an undisclosed amount free and clear of debt.
Corporate
500 is situated at 500 Lake Cook Road between the Edens Expressway (I-94) and
the Tri-State Tollway (1-294) and adjacent to the Lake Cook Metra station
providing access to Chicago’s central business district.
The property is 93.4 percent leased with Beam
Suntory as the anchor tenant for its North American headquarters. Other notable tenants include American
Imaging Management, Fortune Brands’ corporate headquarters and Horizon Pharma’s
North American headquarters.
The HFF
investment sales team representing the seller was led by managing director Mark Katz and senior managing directors
Mike Kavanau, Jeff Bramson and Jaime
Fink.
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| Mike Kavanau |
“Corporate
500 presented the rare opportunity for an investor to acquire a trophy Chicago
property of timeless design that has only been offered for sale once in its
illustrious history,” said Katz.
“Its exceptional combination of attributes is
unmatched and positions the property as the ideal suburban office complex today
and into the future. We are excited to have worked on this generational
opportunity.”
“Corporate
500 serves as the headquarters for 23 tenants thanks in part to its idyllic
corporate setting, large efficient floor plates, unmatched amenity base and
unrivaled transportation access,” added Kavanau.
“Its location between the Edens and Tri-State
provides access to a wide labor pool and the North Shore’s executive
housing.”
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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