Stanton Road Capital, LLC (SRC), a Los Angeles-based real estate investment firm, has purchased Arbor Lake Centre at 1751 Lake Cook Road in Deerfield for an undisclosed sum. Located at the confluence of I-94 and I-294, the 228,000-square-foot, Class A office building was 75 percent leased at the time of acquisition.
Developed in 1986, the six-story property is occupied by a diverse group of tenants including L’Oreal, Miller Cooper, AXA Equitable and Personal Staffing Group. SRC has plans to invest a significant amount of post-acquisition capital to enhance the overall quality and image of the property. Near-term capital projects include a full modernization of the existing fitness center, build-out of a tenant Wi-Fi lounge, installation of a grab-and-go fresh food service and an overhaul to the building’s lobby and common areas.
“Arbor Lake Centre is a property we have tracked closely over the last six months. The location and access have always been the strengths of this property,” said Tim Ronan, Jr., founder and managing partner of SRC. “With our planned upgrades to the building amenities and common areas, we feel that the asset will be very well positioned to continue to retain and attract high-quality corporate tenants.”
Colliers International will serve as the leasing agent and property manager for the building. The sale transaction was facilitated by CBRE.
