NAI Hiffman Secures 3 Tenants for IL Office Building
- May 29, 2018
NAI Hiffman has represented Napleton Auto Group, the landlord of One Brook Terrace in Oak Brook, Ill., in three lease transactions totaling more than 13,000 square feet. Alliant Insurance Services and Debra Braselton, a family law attorney, have renewed their leases of 5,170 and 1,244 square feet, respectively. The third tenant, Lutheran Child & Family Services, will occupy 6,947 square feet of office space in the building.
Located within the East-West Corridor submarket, where NAI Hiffman has recently closed a headquarters lease for SLAS, One Oak Brook Terrace encompasses roughly 161,000 square feet. Originally completed in 1984, the building underwent cosmetic renovations in 2016.
The asset is LEED Silver certified and features a café, a conference center and a covered parking garage accommodating up to 533 vehicles. It is 88 percent leased. According to Yardi Matrix, Napleton Auto Group acquired the eight-story property in 2015 for $21.2 million from UBS Realty Investors. The purchase price was partially covered by a $17 million loan provided by Bank of America.
NAI Hiffman Executive Vice President Mike Van Zandt and Vice President Brian Edgerton represented the property owner in the deals. The brokers working for the tenants were: Senior Associate Tom Berarducci from Colliers, on behalf of Alliant; Senior Director Eric Sorensen from Cushman & Wakefield on behalf of Lutheran Child & Family Services; and President Mark Levy from Sequoia Realty Group, on behalf of the attorney.
Image courtesy of Yardi Matrix