Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1982
Building Area
Land Area
Number of units 86490

Property Description

Jones Lang LaSalle Americas (Illinois) L.P. (JLL) has been exclusively retained to offer the unique opportunity to acquire East/West Corporate Center, a two building Class A office park located in the prestigious western suburbs of Chicago. Prominently situated adjacent to the 4-way interchange of I-88 and US Route 59, the property consists of 225,895 rentable square feet (RSF) and is leased to fifteen tenants, with nearly 50% of the net rentable office area occupied by investment grade, publicly traded companies.


East/West Corporate Center is located in Naperville, one of the most highly regarded cities in the US, recently being named the #3 Best City to Live in America as of 2020. The property benefits from a DuPage County address and is an attractive low-rise suburban alternative in today’s post-COVID market. Currently 77.5% leased across the two buildings, East/West Corporate Center provides investors the opportunity to acquire a value-add asset with significant lease-up potential at a substantial discount to replacement cost.

Investment Highlights

  • Best-of-the-best tenancy
    • 62.3% Headquarters Tenancy
    • 47.7% Investment Grade Tenancy
  • Highly desirable access to area amenities
    • Proximate to the transformational $200MM+ shopping, dining, and entertainment hub, CityGate West will span over 100 acres and transcend the immediate corridor along I-88
  • Considerable rent growth at the property
    • 91% increase in contractual rents across the office park since 2010
  • Full amenity set = leasing velocity
    • 32% higher rents in amenity rich buildings vs. the overall suburbs
    • 7.9% less in vacancy for Class A amenitized buildings vs. the overall suburbs
  • Established corporate location in one of the country’s best ranked cities
    • Naperville is the #3 Best City to live in America
  • Attractive low-rise suburban alternative in today’s post-Covid market
  • Excellent highway frontage and visibility from the I-88 / US Route 59 Interchange
  • DuPage County tax advantage
  • Strong demographic base in Chicago’s East/West corridor
  • Substantial discount to replacement cost
    • 120% discount to new suburban construction
Last Updated Date: 11 Sep 2020
Patrick Shields
Pat Shields
Senior Director, Capital Markets
License details
IL-475.147639
Sam DiFrancesca
Sam DiFrancesca
Director, Capital Markets
License details
475.145835

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Last Updated Date: 11 Sep 2020

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