{"id":1004082127,"date":"2013-08-15T10:47:52","date_gmt":"2013-08-15T18:47:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=163269"},"modified":"2022-12-09T00:23:28","modified_gmt":"2022-12-09T08:23:28","slug":"joint-venture-acquires-300000-sf-suburban-chicago-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/joint-venture-acquires-300000-sf-suburban-chicago-office-park\/","title":{"rendered":"Joint Venture Acquires 300,000 SF Suburban Chicago Office Park"},"content":{"rendered":"<p><em>By Gabriel Circiog, Associate Editor<\/em><\/p>\n<p>Transwestern Investment Group recently announced it has acquired two Class A office buildings in the East-West Corridor office market outside Chicago. The properties were acquired by a joint venture between Transwestern Sponsorship Equity Partners and Soundview Real Estate Partners for an undisclosed amount. <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/Corridors-I-II.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-163270\" title=\"Corridors I - II\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/Corridors-I-II.jpg\" alt=\"\" width=\"285\" height=\"215\" \/><\/a><\/p>\n<p>Located at 2651 and 2655 Warrenville Road in Downers Grove, Illinois, Corridors I and II feature a total of 299,792 square feet and five parking spaces per 1,000 square feet. \u201cThe Corridors fits our strategy to acquire high-quality, well-located suburban office buildings with above top-of-market parking ratios,\u201d said Brandon Allen, TIG acquisition officer. \u201cAt 51 percent leased, the project is an excellent choice for tenants in need of a large block of contiguous space. Additionally, we are excited to work with the Soundview Real Estate Partners team, whose decisive and experienced approach proved valuable on this highly sought after asset.\u201d<\/p>\n<p>Situated adjacent to the intersection of the East-West Tollway (Interstate 88) and North-South Tollway (Interstate 355), around 25 miles west of downtown Chicago, the five-story office buildings were completed in 1998 and 1999 by Chicago-based Alter Group as part of the Corridors Office Park. The property is located in DuPage County, one of suburban Chicago\u2019s most desirable office markets due to its accessibility, strong demographics and large number of corporate office space users.<\/p>\n<p>\u201cThe East-West Corridor office market continues to outperform the rest of suburban Chicago in terms of deal velocity and completed transactions,\u201d said Fred Ishler, Transwestern senior vice president. \u201cWe are optimistic that the recent upturn in the market will result in a rapid lease-up of the buildings.\u201d<\/p>\n<p>Transwestern will provide leasing and management services for the buildings.<\/p>\n<p><em>Photo Courtesy of: www.altergroup.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Transwestern Investment Group recently announced it has acquired two Class A office buildings in the East-West Corridor office market outside Chicago. The properties were acquired by a joint venture between Transwestern Sponsorship Equity Partners and Soundview Real Estate Partners for an undisclosed amount.<\/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":[1491,21742],"tags":[1815],"class_list":["post-1004082127","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Joint Venture Acquires 300,000 SF Suburban Chicago Office Park - 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\/joint-venture-acquires-300000-sf-suburban-chicago-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joint Venture Acquires 300,000 SF Suburban Chicago Office Park\" \/>\n<meta property=\"og:description\" content=\"Transwestern Investment Group recently announced it has acquired two Class A office buildings in the East-West Corridor office market outside Chicago. The properties were acquired by a joint venture between Transwestern Sponsorship Equity Partners and Soundview Real Estate Partners for an undisclosed amount.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/joint-venture-acquires-300000-sf-suburban-chicago-office-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-15T18:47:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:23:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/08\/Corridors-I-II.jpg\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/joint-venture-acquires-300000-sf-suburban-chicago-office-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/joint-venture-acquires-300000-sf-suburban-chicago-office-park\/\",\"name\":\"Joint Venture Acquires 300,000 SF Suburban Chicago Office Park - 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