Class A office park in northern Chicago suburbs trades via HFF

Corporate 500, 500 Lake Cook Road,  Deerfield, IL

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.

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

krmurphy@hfflp.com

www.cornerstoneadvisers.com.

Berger Commercial Realty Brokers Close Five Transactions Across Broward County, FL Totaling Nearly 25,000 Square-Feet

 

Joseph Byrnes

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Joseph Byrnes, Keith Graves, St. George Guardabassi, Greg Milopoulos and Jonathan Thiel recently closed multiple lease transactions and one sale for properties throughout Broward County.

Byrnes, Graves and Thiel represented landlord KAS University, LLC for three new leases at 4300 N. University Drive in Lauderhill including 3,900 square-feet of office space to Advocates for America, 1,150 square-feet of office space to Sunshine Investment Realty, and 1,150 square-feet of office space to Infinity Staffing Solutions, LLC.

 The property, known as Executive University Court, features an office campus setting, a landscaped center courtyard, individual entrances to each suite, private bathrooms, kitchens, round-the-clock access and high traffic visibility on University Drive.

Additionally, brokers Graves and Guardabassi represented HLS Ventures, LLC in the sale of a 2,542-square-foot office/retail property to Donna and Margaret, LLC for $421,000.

Located at 3325-3327 NE 32nd St. in Fort Lauderdale at the Ocean Village Shops, the property offers flexible layouts for office, retail, or storefront use and is within minutes of major roads and highways.

Brokers Graves and Milopoulos represented WEMA USA, Inc. in leasing 16,250 square-feet of industrial space from Davie A, LLC. The property is located at 3300 SW 65th Ave. in Davie. WEMA USA will occupy suite 300.

For a complete copy of the company’s news release, please contact:

Media Contact: 954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

Lincoln Awarded Sales Assignment For Parker Court Business Center in Stone Mountain, GA

 

Denton Shamburger

 ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) was awarded the sales assignment for Parker Court Business Center, a nine-building flex/shallow bay industrial portfolio located in Stone Mountain, Georgia.

 Lincoln currently leases and manages the property on behalf of the owner, MR Parker Center L.P.

“At 52 percent leased, Parker Court Business Center represents an excellent opportunistic opportunity that can be purchased at a significant discount to replacement cost,” said Denton Shamburger of Lincoln.

 “Leasing momentum at the property has been exceptional, with more than 60,000 square feet in leases signed over the past 15 months.”

The 243,358-square-foot Parker Court Business Center is located at 1860-1999 Parker Court. The property offers an infill location with close proximity to all major thoroughfares through metro Atlanta.

The Stone Mountain market has shown strong fundamentals with more than 500,000 square feet of positive net absorption during 2014, and more than 95,000 square feet of positive net absorption in the first quarter 2015.

For a complete copy of the company’s news release, please contact:

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

NAI Realvest Negotiates Two New Leases totaling More than 10,600 Rentable Square Feet at Poinciana CommerCenter in Kissimmee, FL

Kristen Kemp

KISSIMMEE, FL – NAI Realvest recently completed two new long term industrial leases at Poinciana CommerCenter East on Business Center Lane in Kissimmee representing the landlord, Small Bay Partners, LLC of Maitland.  

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp negotiated a new lease of 5,120 square feet at 1713 Business Center Lane. The tenant is E & A Fitness d/b/a Anytime Fitness and was represented in the transaction by Andrew Junker of Franchise Real Estate. 

Heidrich also brokered a new/expansion lease agreement with Fine Line Furniture LLC who relocated from a unit with 1,269 square feet into two new units, 1731 and 1751 Business Center Lane, with 5,500 square feet.  

For a complete copy of the company's news release, please contact:

Beth Payan or Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

Lincoln Brokers Leases Totaling 37,000 Square Feet at Eleven Seventeen Perimeter in Metro Atlanta

Shannon Price

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered leases totaling 37,006 square feet at Eleven Seventeen Perimeter, a Class-A, five-story office building located in the Central Perimeter submarket of metro Atlanta near the Sandy Springs MARTA station, Georgia 400 and Interstate 285.

Michael Howell, Hunter Henritze and Matt Davis of Lincoln represented the building owner, Colony Realty Partners, in the transactions.

Since 2013, Lincoln has driven dramatic improvements in Eleven Seventeen Perimeter’s operating fundamentals. 

The occupancy rate has risen from 78 percent to 93 percent, and the average asking rent has risen 12 percent annually.

The details of the deals are below:

Michael Howell

• EMC Corp. extended and expanded its lease by 11,634 square feet, and now occupies a total of 15,107 square feet at the building. Tim Tindall and Jim Byrd of Cresa Atlanta represented the tenant.

• Volt Information Systems renewed its 5,176-square-foot lease.

• Rand Construction extended and expanded its lease, and now occupies a total of 6,201 square feet at the building. Shannon Price of JLL represented the tenant.

• I.K. Hofman has signed a new lease for 3,779 square feet. Tom Wesley of the Wesley Cos. represented the tenant.

• Agilivest extended and expanded its lease, and now occupies a total of 6,743 square feet at the building. Jason Calvo of Calvo Clancy represented the tenant.

“The Central Perimeter submarket continues to grow in appeal to office tenants, and Eleven Seventeen Perimeter is without question one of the most desirable locations in the submarket,” Howell said.

For a complete copy of the company’s news release, please contact:

Savannah Duncan

The Wilbert Group

404-343-0870