​Transwestern’s Chicago office today announced it brokered the sale of 1717 Park Street on behalf of Quarter Circle Capital LLC. The 114,016-square-foot, mid-rise office building is located in the Park Place of Naperville business park in Naperville, Ill., and was purchased by Deen Investment LLC for $5,722,500. The Class A- property was 69 percent leased at the time of sale with significant rent roll exposure in the next two years.

“The combination of near-term contractual cash flow and a low investment basis was seen as an excellent opportunity by value-added investors pursuing lease-up plays,” said Gary Nussbaum, managing director at Transwestern. “The property is now well-positioned to offer favorable rents relative to its competitive building set.”

The seller was exclusively represented by Transwestern’s Nussbaum; Thomas Gorman, managing director; and David Matheis, senior associate. Transwestern marketed the property in conjunction with Auction.com. In July 2013, Transwestern brokered the sale of the nearby 1755 Park Street, also on behalf of Quarter Circle Capital LLC, to Podolsky for $2.5 million.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern’s Chicago investment sales group on Twitter: @TWChicagoISG.

 

Media Contact:
Kelli Paskey
312.881.7021
kelli.paskey@transwestern.net​​​​​​​