Search
 

Winthrop Buys Prentiss' Corporetum, Arboretum Assets

LISLE, IL-Dallas-based Prentiss Properties Trust's exit from the local market includes selling four buildings along Warrenville Road for $120 per sf to Boston-based Winthrop Realty Trust. Chicago-based Marc Realty takes a 40% stake in one of the assets.

By Mark Ruda | Updated on February 28, 2006

LISLE, IL-Boston-based Winthrop Realty Trust has made a $34-million investment in four office properties, totaling about 294,388 sf, on Warrenville Road, near the East-West and North-South tollways. Three of the buildings sold by Dallas-based Prentiss Properties Trust are in the Corporetum Office Campus while a fourth is in Arboretum Lakes.

Winthrop Realty Trust bought 550-560 and 701 Warrenville Rd. outright for $31.8 million while the vacant 54,735-sf 1050 Warrenville Rd. was bought for $3.5 million with Chicago-based Marc Realty holding a 40% stake. The wholly owned properties are 97% occupied.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.