CBRE’s Ted Buenger, Mike Caprile and Jeff Mann assisted McShane Development Co. and Globe Corp. in the sale of MidPoint One, a 51,579-square-foot office property at 7125 Janes Ave. in Woodridge.
MidPoint One is part of MidPoint Corporate Center, which is a 17-acre, master-planned, multi-building office development for four single-story office properties.
MidPoint One is fully leased with an average remaining lease term of five years. The sale demonstrates a growing appetite of suburban office investors for stabilized properties. To date, most suburban office investment sales have been value-add properties.