{"id":1004046748,"date":"2012-09-18T07:00:16","date_gmt":"2012-09-18T15:00:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004046748"},"modified":"2022-12-09T01:42:52","modified_gmt":"2022-12-09T09:42:52","slug":"bridge-sells-163-ksf-suburban-class-a-chicago-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bridge-sells-163-ksf-suburban-class-a-chicago-office\/","title":{"rendered":"Bridge Sells 163 KSF Suburban Class A Chicago Office"},"content":{"rendered":"<p><strong>By Barbra Murray, Contributing Editor<\/strong><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004046750\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bridge-sells-163-ksf-suburban-class-a-chicago-office\/577-corporate-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg\" data-orig-size=\"1024,629\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"577 Corporate Center\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg?w=1024\" class=\"alignleft  wp-image-1004046750\" title=\"577 Corporate Center\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg\" alt=\"\" width=\"323\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg?resize=300,184 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/577-Corporate-Center.jpg?resize=768,472 768w\" sizes=\"auto, (max-width: 323px) 100vw, 323px\" \/><\/a><\/p>\n<p>Three years after completing the joint venture development of the 162,700-square-foot office building at 577 Aptakisic Rd. in Lincolnshire, Ill., Bridge Development Partners L.L.C. has sold the Class A suburban Chicago asset to Cole Real Estate Investments in a transaction valued at approximately $50 million.<\/p>\n<p>Also known as Sysmex Corporate Center, the LEED Gold-certified property is fully occupied by Globe Corp., a Japanese medical device manufacturer that maintains its North and South American headquarters in the four-story building under a 15-year, triple-net lease agreement signed in 2011.<\/p>\n<p>Bridge and joint venture partner Globe Corp. completed 577 Aptakisic as a spec development in late 2009, a time when the national real estate market had gone south. However, it was a plan that had merit given that, at the time, nary a new state-of-the-art, LEED-certified office facility existed in the Southern Lake County submarket, which is home to the largest hub of Fortune 500 headquarters in suburban Chicago.<\/p>\n<p>Commercial real estate and capital markets services provider HFF represented Bridge in the disposition of 577 Aptakisic. At a sales price of roughly $307 per square-foot, the property commanded a relatively high amount. Recent comparable transactions in suburban Chicago include Wells REIT&#8217;s acquisition of the 172,100-square-foot Four Parkway North for $40.9 million, or approximately $237 per square-foot. Bigger price tags may very well be on the horizon. In a second quarter report, commercial real estate services firm representatives said, &#8220;We expect additional liquidity and improving market conditions to spur more competition in the investment sales market in the period ahead.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bridge Development Partners sold a suburban four-story office building in Chicago to Cole Real Estate Investments.<\/p>\n","protected":false},"author":969,"featured_media":1004046750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21747,21786],"tags":[],"class_list":["post-1004046748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-office","category-sustainability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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