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Rreef Pays $22M for Hewitt Building

LINCOLNSHIRE, IL-The employee benefits consultants' professional services building at 475 Bond St. commands $98 per sf. More than half of the 222,127 sf is warehouse space.

By Mark Ruda | Updated on March 30, 2006

LINCOLNSHIRE, IL-One more piece of Hewitt Associate’s operations here has been sold. Principals of the McShane Co. sold a 222,127-sf warehouse and office building on 12.3 acres at 475 Bond St. to a Rreef client for more than $21.7 million, according to Lake County property records.

Last year, Oak Brook-based Inland Western Retail Real Estate Trust Inc. paid $220 million for Hewitt Associates Inc.’s four-building, 1.2-million-sf campus on Route 22. That deal involved FORE Holdings, LLC, an entity related to Hewitt Associates, which is leasing back the space for $1.26 million a month.

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