Center Core Buys Chicago-Area Office Campus
- Jul 28, 2017
Center Core Properties is the new owner of Corporetum Office Campus VI, a two-building portfolio part of the larger Corporetum Office Campus in Lisle, Ill. Winthrop Liquidation Trust, the previous owner, tapped HFF to market the 168,698-square-foot asset, which is part of the company’s liquidation plan.
HFF succeeded not only in finding a buyer but also in procuring a three-year $9.5 million acquisition bridge loan originated by Thorofare Capital.
Corporetum Office Campus VI
The two buildings were completed in 1987 at 550 and 650 Warrenville Road, adjacent to Interstate 88 and near the Interstate 355 interchange. On the other side of the highway is The Morton Arboretum. The site is approximately 25 miles from Downtown Chicago.
Amenities at Corporetum Office Camouos VI including a fitness center, a conference center, a café and deli shop, outdoor balconies and 575 parking spaces for tenants. Among them are Fairway Mortgage, Primera Engineers, ABM Janitorial, Circle K and United Health Care, boasting an 83 percent occupancy.
The HFF team of brokers representing the seller in the transaction was made up of Associate Director Patrick Shields, Senior Managing Directors Jaime Fink and Jeff Bramson and Director Bryan Rosenberg. The loan was arranged by Directors Christopher Carroll and Trent Niederberger.
Image courtesy of Yardi Matrix