{"id":1004056372,"date":"2012-12-19T08:15:32","date_gmt":"2012-12-19T16:15:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=90461"},"modified":"2020-05-18T04:29:40","modified_gmt":"2020-05-18T12:29:40","slug":"transwestern-brokers-sale-of-oak-creek-center-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-brokers-sale-of-oak-creek-center-office-portfolio\/","title":{"rendered":"Transwestern Brokers Sale of Oak Creek Center Office Portfolio"},"content":{"rendered":"

By Gabriel Circiog, Associate Editor<\/em><\/p>\n

Transwestern\u2019s Chicago office recently announced that it has brokered, on behalf of KBS Realty Advisors, the sale of the Oak Creek Center office portfolio in Lombard, Ill. \"\"<\/a>A joint venture between Investcorp and Golub acquired the 427,161-square-foot office portfolio for $39.5 million.<\/p>\n

\u201cInvestors are beginning to recognize the value in stable, suburban-Chicago, Class B office investments,\u201d said Gary Nussbaum, managing director of Transwestern. \u201cThis type of property can generate healthy levered returns in the current low interest rate environment. The sale of Oak Creek Center to a New York-based advisor of Middle Eastern capital marks the third time in 2012 that a significant suburban Chicago office property traded to foreign investor interests. We expect this trend to continue.\u201d<\/p>\n

Located in suburban Chicago\u2019s East-West Corridor, the institutional-quality 11-building portfolio features nine single-story and two multi-story buildings in a business park setting. At the time of sale, the portfolio was 87.5 percent leased. Transwestern\u2019s Managing Directors Gary Nussbaum and Thomas Gorman, as well as Senior Associate David Matheis, represented KBS Realty Advisors. The buyer represented itself in the transaction.<\/p>\n

In other local real estate news, DuPont Fabros Technology Inc. announced that the company\u2019s CH1 data center in Elk Grove Village, Ill. is now fully leased. Built in two phases, CH1 totals 485,000 square feet, 231,000 raised square feet and 36.4 megawatts of critical load.<\/p>\n

An existing financial tenant in the company\u2019s New Jersey facility has leased 0.43 MW in Phase I, and an existing tenant from the company\u2019s Northern Virginia facilities has leased 2.6 MW in Phase II. The two deals take the total number of tenants in CH1 to nine with a weighted average lease term of 9.9 years.<\/p>\n

For more market data from Chicago, click here<\/strong><\/a>.<\/p>\n

Photo Courtesy of: www.oakcreekcenter.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Transwestern’s Chicago office recently announced that it has brokered, on behalf of KBS Realty Advisors, the sale of the Oak Creek Center office portfolio in Lombard, Ill. A joint venture between Investcorp and Golub acquired the 427,161-square-foot office portfolio for $39.5 million.<\/p>\n","protected":false},"author":264,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21755,21742],"tags":[1815],"class_list":["post-1004056372","post","type-post","status-publish","format-standard","hentry","category-chicago","category-data-centers","category-latest","tag-national"],"acf":[],"yoast_head":"\nTranswestern Brokers Sale of Oak Creek Center Office Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-brokers-sale-of-oak-creek-center-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transwestern Brokers Sale of Oak Creek Center Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"Transwestern’s Chicago office recently announced that it has brokered, on behalf of KBS Realty Advisors, the sale of the Oak Creek Center office portfolio in Lombard, Ill. 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