Although it developed the office and industrial park, the Fairway Drive properties were considered to be outside of its core market. The REIT, among the top 20 managers of office and industrial properties in the U.S., is refocusing on core markets such as the suburban Washington, D.C. area. However, Prentiss still has an office in Chicago and its holdings still include the 275,000-sf Bannockburn Centre in another Lake County suburb south of Vernon Hills.
While the sale was a step in that direction, the company made a $10-million profit on the three properties. The 225 Fairway Drive building is a one–story office and warehouse building with pre-cast concrete over a steel frame. It can handle 12 interior truck docks with four drive–in doors, and has parking for 193 cars. The larger 375 Fairway Drive property is a one-story, speculative office/warehouse building that can handle up to three tenants. It also is built with pre-cast concrete over a steel frame, can handle 15 interior truck docks with three drive-in doors, and has parking for 200 cars.
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