Press Release brought to you by HFF

HFF announces sale of Tri-State International Office Center in suburban Chicago

11/01/2017

CHICAGO, IL – November 1, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Tri-State International Office Center, a five-building, Class A office park totaling 559,204 square feet in north suburban Chicago, Illinois.

The HFF team represented the seller, Principal Real Estate Investors, and Bradford Allen Investment Advisors (BAIA) acting as an advisor, represented the purchasers.

Tri-State International Office Center consists of CDW Center, which comprises two buildings that are fully leased to CDW, a Fortune 500 Company, for their headquarters; and 100, 200 and 300 Buildings that total 350,183 square feet.  All five properties have been renovated since 2013, and are 79.3 percent leased to tenants, including CDW, LTD Commodities, Solo Cup and Wells Fargo Bank, NA.  Park amenities include a conference center, 135-seat auditorium, amenity center in the 200 Building, fitness center, deli and parking for 2,394 vehicles in a combination of surface and garage spaces.  Tri-State International Office Center is situated on 37.4 acres at the four-way interchange of the Tri-State Tollway (Interstate 94) and Half Day Road (Route 22) in the northern Chicago suburb of Lincolnshire.  This location is proximate to the affluent North Shore residential communities and is a popular headquarters location for numerous Fortune 500 Companies such as Abbott Laboratories, Allstate, Aon Hewitt, CVS, Caremark, Illinois Tool Works and Walgreens.

The HFF investment sales team representing the seller was led by directors Patrick Shields and Bryan Rosenberg and senior managing directors Jaime Fink, Jeff Bramson and Mark Katz.

“This was a fantastic opportunity for the buyer to purchase a Class A office park with a balanced tenant roster, and excellent visibility and access from the adjacent Tri-State Tollway,” said Shields.

“This unique opportunity anchored by the stable income of CDW’s headquarters generated tremendous interest from both local and out of town capital,” added Rosenberg.

About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $74.7 billion in commercial real estate assets*.  The firm’s real estate capabilities include both public and private equity and debt investment alternatives.  Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
*As of 30 June 2017

About Bradford Allen Investment Advisors
Bradford Allen Investment Advisors (BAIA) is a commercial real estate advisory firm based in Chicago, Illinois. As a subsidiary of Bradford Allen (BAIHP Holdings, LLC), with $950 million in assets under management, BAIA originates commercial real estate equity investment opportunities. BAIA focuses exclusively on investing capital in commercial real estate on behalf of a select group of life insurance companies, high net worth individuals, and private family offices (PFOs).bradfordalleninvestmentadvisors.com.

About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Source

HFF

Want more news about HFF? Click here