JLL Capital Markets has closed the sale of Two TransAm and 750 Warrenville, two Class A office assets totaling 212,139 square feet in the western suburbs of Chicago. Terms of the transaction were not disclosed.
JLL represented the seller, American Landmark Properties Corporation, and procured the buyer, RE Development Solutions. The JLL Capital Markets team representing the seller was led by senior director Patrick Shields, senior managing directors Jaime Fink, Jeffrey Bramson and Bruce Miller and director Sam DiFrancesca.
Located at 2 TransAm Plaza Drive in Oakbrook Terrace, Illinois and 750 Warrenville in Lisle, Illinois, both properties are positioned within the East-West Corridor submarket of DuPage County. This submarket is an established corporate location with immediate access to two interstates, the Yorktown-Oak Brook retail corridor and the executive housing stock in Oak Brook, Hinsdale, Burr Ridge and Naperville. Two TransAm offers 117,759 square feet of space within a five-story building that is 87.7 percent leased to 18 tenants. Nine tenants reside at the 86.7-percent-leased, four-story, 94,380-square-foot 750 Warrenville property.
“This was a fantastic opportunity to capture strong current cash flow while continuing to add value through lease up and marking in place rents to market,” Shields said.
