Chicago office assets trade to RE Development Solutions
JLL Capital Markets completes the $24.18M sale of Two Transam and 750 Warrenville
CHICAGO, April 9, 2020 – JLL Capital Markets announced today that it has closed the sale of Two TransAm and 750 Warrenville, two Class A office assets totaling 212,139 square feet in the prestigious western suburbs of Chicago, Illinois.
Located at 2 TransAm Plaza Drive in Oakbrook Terrace and 750 Warrenville in Lisle, 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% leased to 18 tenants. Nine tenants reside at the 86.7%-leased, four-story, 94,380-square-foot 750 Warrenville property.
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.
“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.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About American Landmark Properties Corporation
American Landmark Properties is the owner of numerous suburban office properties in Chicago, as well as Class A office high-rises in Cleveland, New Jersey and New York. It is widely known for its acquisition of the Willis Tower in 2004 and its sale to the Blackstone Group in 2015.
About RE Development Solutions
RE Development Solutions is a Commercial Real Estate Management Company with a mix of roughly 1,400,000 square feet of industrial, office and retail space under management. Over the last four years, the firm has continuously doubled its management portfolio with a goal of reaching two million square feet under management by the end of 2020. The team is focused on expanding its capabilities and continuing to provide excellent service to its investors and tenants.