Naperville Corporate Center sold for $38.7M
Holliday Fenoglio Fowler Tuesday announced the $38.725 million sale of Naperville Corporate Center, a four-building office portfolio totaling 420,540 square feet in Naperville.
Naperville Corporate Center comprises 1230, 1240, 1245 and 1250 East Diehl Road, which are situated on 22.16 acres just south of Interstate 88 in the northeastern portion of Naperville, the fifth largest city in Illinois.
The three-, four- and five-story buildings are 83.6 percent leased. Notable tenants include KeHe, Trizetto Group, Berkley Insurance, Apex and Infogix Inc.
The HFF team represented the seller, a joint venture between TriGate Capital, LLC and Pearlmark, and procured the buyer, Real Capital Solutions.
The HFF investment advisory team representing the seller consisted of directors Patrick Shields and Bryan Rosenberg and senior managing directors Jaime Fink and Jeff Bramson.
"This unique opportunity anchored by the stable income of KeHe's headquarters generated tremendous interest from both local and out of town capital," Rosenberg said.
"This was a fantastic opportunity for the buyer to purchase a cash-flowing office park with a balanced tenant roster and excellent visibility and access to a host of walkable amenities," Shields added.
TriGate is based in Dallas, Texas and has completed investments throughout the United States.
HFF and its affiliates operate out of 26 offices and are a provider of commercial real estate and capital markets services to the global commercial real estate industry.