Middle Market Investment Team Completes Office Building Sale
Burr Ridge Office Center Sells to Private Investment Group
Podolsky|Circle CORFAC International’s Middle Market Investment Team, comprised of Principals Alissa Adler and John R. Homsher, CCIM, have represented a private investment group in the sale of Burr Ridge Office Center, a 53,844 sq. ft. single story multi-tenant office building located in Burr Ridge, IL.
Burr Ridge Office Center sits on 5.2 acres at 16W361 South Frontage Road in Burr Ridge. The building consists of 14 office suites with a mix of small and medium sized tenants. The property was 94% occupied at the time of sale.
The buyer, also a private investment group, acquired the asset because of the building’s stabilized cash flow and limited lease rollover risk.
This is the second investment sale that Adler and Homsher have arranged in the month of September. The previous transaction, a 90,000 sq. ft. industrial/flex building in Huntley, was sold on behalf of a regional bank.