JLL Capital Markets announced today that it has closed the sale of Edens Corporate Center, a two-building office property located at 630-650 Dundee Rd. in Northbrook, Illinois.
JLL worked on behalf of the seller, KBS, to complete the sale to Bradford Allen Investment Advisors.
Edens Corporate Center stands four stories tall and consists of 188,040 total rentable square feet. The two buildings were originally built in 1987 and 1988 respectively, and later renovated in 2016-2019. The property features various amenities, including heated parking, outdoor terrace space, a café, a fitness center, a yoga room and a bike room.
The property is positioned in one of the most affluent and attractive communities in the northern Chicago suburbs, also known as the “North Shore.” The area quickly embraced the migration of Millennials moving to the suburbs, which consist of one of the largest segments of the workforce today, and benefits from exceptionally strong demographics with average household income surpassing the national average.
“We were very pleased with JLL Capital Markets’ strategic execution of this disposition,” said Dan Park, Asset Manager of Edens Corporate Center and Senior Vice President for KBS.
The JLL Capital Markets team representing the seller was led by Senior Directors Patrick Shields and Sam DiFrancesca and Senior Managing Directors Jaime Fink, Jeff Bramson and Bruce Miller.
“Edens is a perfect example of a smaller tenant building that has seen its population return to the office, make space decisions and adjust their footprint accordingly,” said Shields. “There will be a great lease-up story here and we can’t wait to watch it unfold.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge deliver best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.