November 2007
The Archives
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November 28, 2007Germans buy the Rookery for $73M
Chicago
An unknown wealthy German family purchases the Rookery for $73.4M from Broadway Partners. The 285,706 square foot building is located at 209 South LaSalle Street, Chicago. The twelve story building was constructed in 1888 and renovated in 1991. The building is a National Historical Landmark and has received numerous design awards. At the time of sale it was reported 97% leased by a number of large government, legal and financial firms.
The unknown German purchaser was represented by the Metzler North America Corp. Broadway Partners were represented by Michael Vesper of CB Richard Ellis.
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November 19, 2007Professional Packaging Systems Leases 104,000SF
HoustonProfessional Packaging Systems LLP will occupy 104,000 square feet of industrial space in Grand Prairie, Texas. The property is located at 2002 Avenue R, just south of the North Carrier Parkway and East of the Great Southwest Parkway. The property is owned by ML Realty Partners headquartered in Addison, Texas.
Professional Packaging Systems is a national discount supplier of plastic packaging products including polyethylene bags, sheeting, shrink film, stretch film and foam.
ML Realty Partners was represented by Michael Stanzel of NAI Robert Lynn. G. Walter Floyd of NAI Huff Partners represented Professional Packaging Systems.
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November 13, 2007Surface Guard Leases 107,000SF
Chicago
Surface Guard Inc. renewed a lease of 107,000SF in Aurora. The lease is comprised of two buildings, located at 515 and 615 Enterprise Street. The two buildings are owned and managed by Duke Realty. No information was made available regarding the lease rate.Surface Guard specializes in the manufacturing of surface protection films.
Surface Guard was represented by David Friedland, a partner of the firm Epic/Savage. The property owner, Duke Realty was self-represented.
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November 8, 2007Microsoft Is Building In Northlake
ChicagoMicrosoft has just announced the construction of a $500M data center in Northlake, Illinois. The site is located about 14 miles from downtown Chicago, and plans to be completed around the middle of next year.
The construction of the building is expected to employ upwards of 500 people, the center itself is only expected to employ 75 people after completion. Microsoft will use this location in order to be more competetive with Google and Yahoo. The Chicago site was based on the availability of electricity and fiber optic connectivity. The location was also selected because of it’s climate, they will capture cool air in order to cool the massive internet servers that it will be housing.
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November 7, 2007Somerville Office Building Sold for $20M
BostonA 66,217 square foot office building located at 212 Elm Street sold recently for $19.6M to Upland Capital Corp. The 4-story building in the Davis Square Neighborhood was owned and managed by Paradigm Properties.
Built in 1989, the building features both covered and surface parking. At the time of sale the building was 100 percent leased to tenants including; Arrowstreet Inc., Citizens Bank, and Powderhouse Productions Inc.
The Boston real estate firm, Meredith & Grew Inc. represented Paradigm Properties. Paradigm will continue to lease and manage the property.
recent articles
- Manhattan Tower Sells for $1B
- 280 Park Avenue Sold For $1.28B
- Germans buy the Rookery for $73M
- Professional Packaging Systems Leases 104,000SF
- Surface Guard Leases 107,000SF
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