Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the sale of Corporate 500, a four-building, Class A office park totaling 697,673 square feet in the northern Chicago suburb of Deerfield.
HFF marketed the sale on behalf of GE Capital Real Estate. Cornerstone Real Estate Advisers, acting on behalf of an institutional client, purchased the asset for an undisclosed amount free and clear of debt.
Corporate 500 is situated at 500 Lake Cook Road between the Edens Expressway (I-94) and the Tri-State Tollway (1-294) and adjacent to the Lake Cook Metra station providing access to Chicago’s central business district. The property is 93.4 percent leased with Beam Suntory as the anchor tenant for its North American headquarters. Other notable tenants include American Imaging Management, Fortune Brands’ corporate headquarters and Horizon Pharma’s North American headquarters.
The HFF investment sales team representing the seller was led by managing director Mark Katz and senior managing directors Mike Kavanau, Jeff Bramson and Jaime Fink.
