{"id":1004122955,"date":"2015-07-10T07:34:27","date_gmt":"2015-07-10T15:34:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122955"},"modified":"2020-04-15T10:15:16","modified_gmt":"2020-04-15T18:15:16","slug":"gll-scores-prime-asset-in-windy-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gll-scores-prime-asset-in-windy-city\/","title":{"rendered":"GLL Takes on River North"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004122958\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Jim-Clark-EnTrust.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004122958\" data-attachment-id=\"1004122958\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gll-scores-prime-asset-in-windy-city\/jim-clark-entrust\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Jim-Clark-EnTrust.jpg\" data-orig-size=\"336,348\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Jim Clark EnTrust\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jim Clark, EnTrust&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Jim-Clark-EnTrust.jpg?w=336\" class=\"size-thumbnail wp-image-1004122958\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/07\/Jim-Clark-EnTrust.jpg\" alt=\"Jim Clark EnTrust\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004122958\" class=\"wp-caption-text\">James Clark, EnTrust<\/p><\/div>\n<p>Munich-based<a href=\"https:\/\/www.gll-partners.com\/\" target=\"_blank\" rel=\"nofollow\"> GLL Real Estate Partners <\/a>GmbH increases its presence in Chicago for the second time this year with the acquisition of One11 West Illinois, a fully leased mixed-use office destination in the city\u2019s River North submarket. In a head-turning deal, the company acquired the seven-year-old asset from its developer, The Alter Group, for a reported sum of $75 million.<\/p>\n<p>GLL purchased 152,200 square feet of the 227,600-square-foot building; the remaining 75,000 square feet is owned and occupied by the Erickson Institute graduate school. And according to EnTrust Realty Advisors, the firm that marketed the 10-story tower on the seller\u2019s behalf, the trade marks one of the top office property sales in Chicago\u2019s history on a price-per-square-foot basis. \u201cThe transaction further reinforces the trend that foreign and domestic investors view Chicago as a top-tier office market,\u201d James Clark, managing principal at EnTrust, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>The investment community was attracted to One11 like bees to honey, drawn in by a handful of coveted attributes. For starters, the building boasts a blue-chip company, global cloud computing firm Salesforce.cm, as its anchor.\u00a0 Additionally, the premier property is one of the few mid-sized Class A office buildings in the River North submarket\u2019s sea of trophy and smaller brick-and-timber loft buildings. And then there\u2019s the all-important location factor. It seems investors the world over want a piece of Chicago.<\/p>\n<p>\u201cThe global competition for Class A office in Chicago is creating an environment where cap rates are compressing and values are reaching historic highs,\u201d Clark said. In the first quarter of 2015, Chicago held the eighth position of the world\u2019s largest recipient cities of cross-border real estate investment, according to a report by commercial real estate services firm JLL.<\/p>\n<p>From EnTrust\u2019s perspective, the One11 transaction is indication of more to come. \u201cThis successful sale points to EnTrust\u2019s global reach and expertise in executing CBD office transactions and positions us to assist other office property owners who want to take advantage of the attractive values fueled by the significant investor appetite for Chicago CBD properties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Munich-based GLL Real Estate Partners GmbH has increased its presence in Chicago for the second time this year.<\/p>\n","protected":false},"author":969,"featured_media":1004122958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21752,21742,21747],"tags":[],"class_list":["post-1004122955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-mixed-use","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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