Westport Capital Partners LLC has awarded Cushman & Wakefield the exclusive management and leasing contract for two office buildings in Schaumburg totaling 347,094 square feet. Dan Svachula of C&W will lead the leasing team for the buildings while Janet Reuter will oversee the management team.
One of the properties, Embassy Plaza, located at 1933 N. Meacham Road, is a seven-story, 142,209-square-foot office building built in 1985. The second property, One Woodfield Lake, located at 1000 E. Woodfield Road, is a four-story, 204,885-square-foot office building built in 1979. These acquisitions mark Westport Capital’s first investments in the Chicago market.
“We believe in the fundamentals of the suburban Chicago office market and these acquisitions give us an opportunity to enter the market well below replacement cost,” said Chad Goodman, assistant vice president of Westport Capital Partners LLC. “Given the reset basis, we can pursue an aggressive lease up strategy.”
