By Ioana Neamt, Associate Editor
Philadelphia-based Equus Capital Partners recently announced that an affiliate purchased MetroWest, an office building designed by renowned German architect Helmut Jahn in Naperville, Ill. The company bought the asset from a joint venture between Franklin Partners LLC and Bixby Bridge Capital LLC, for about $33 million, according to Crain’s Chicago Business. The 29-year-old building at 55 Shuman Blvd. was 92 percent occupied at the time of sale.
A CBRE Capital Markets – Institutional Properties team consisting of Paul Lundstedt, Dan Deuter, Tom Sitz, and Cody Huntermark represented the seller in the deal. The acquisition was made on behalf of Equus Investment Partnership X—a discretionary fund managed by Equus—and marks the partnership’s second commercial investment.
Designed by Jahn in a distinctive ‘N’ shape, the 10-story MetroWest building incorporates a two-story lobby, floor plates ranging from 17,000 to 23,000 square feet, an outdoor putting green, front patio, fitness center, and conference room, among other amenities. The property also includes close to 600 parking spaces, as well as a 24-stall underground executive parking garage.
MetroWest is conveniently located adjacent to the I-88, as well as to various retail and hotel destinations in the area. Downtown Naperville’s commercial district is also less than three miles away from the site.
“MetroWest is a highly visible iconic building with great amenities and access to all that Naperville has to offer,” Matthew Latimer, vice president of Equus, said. “The property has a higher level of recognition within the metropolitan Chicago than most office buildings in the CBD.”
Image courtesy of Equus Capital Partners