The Missner Group acquired the 168,000-square-foot Olympian Office Center, 4343 Commerce Court in Lisle, Illinois. The seven-story office building and former headquarter offices of Porsche Cars North America is located along I-88 in the East/West Tollway submarket of Suburban Chicago. This represents the largest office acquisition to-date for The Missner Group, who bought the property through a short sale from Riverview Realty Partners.
“Our business plan is simple: buy it, improve and enhance it, lease it and sell it,” said Ed Adler, executive vice president of The Missner Group.
Constructed in 1987 and situated on 7.4 acres, the Olympian Office Center features a seven-story glass atrium, a new fitness center with locker room amenities, a conference facility and outdoor balconies. The property also includes a lunchroom with cafeteria service, on-site property management, 25 covered parking spaces and 521 uncovered spaces. Building occupancy currently sits at 30 percent with major tenants including the FBI and law firm Hinshaw & Culbertson.
“We plan to invest a significant amount of capital into this high-profile property through renovations and updates, as well as by investing in qualified brokers to lease the available space,” added Adler. “The property’s ability to offer 50,000 square foot blocks of continuous space, numerous tenant amenities and the possibility of signage along one of the area’s highly traversed expressways make this a desirable opportunity for potential companies looking to benefit from the submarket’s location, demographics and abundance of business offerings in the area.”
Ed Adler, EVP of The Missner Group, led the acquisition for the firm. Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Hundertmark of CBRE represented the seller, Riverview Realty Partners.
