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Mid America Plaza Sells for Almost $100M

OAK BROOK, IL-KBS Realty Advisors takes control of Mid America Plaza I and II, getting 407,263 sf of 90%-leased space at a pre-eminent corner.

By Gina Kenny | Updated on March 24, 2007

OAK BROOK, IL-KBS Realty Advisors has closed on Mid America Plaza I and II from Rreef Real Estate. The landmark’s sale hovered around $100 million.

The hand-off was made in the “vicinity” of but “less than $100 million,” says Bill Rogalla, senior vice president and acquisitions director for Newport Beach, CA-based KBS Realty Advisors. He represented KBS Realty Advisors in the transaction. Michel Caprile and Bill Novelli, with CB Richard Ellis, represented the San Francisco-headquartered seller.

The two adjoining class A 10-story office buildings, each with a six-story glass atrium, were constructed in 1985 in the Eastern East/West Corridor submarket of DuPage County. “It was a great opportunity to acquire a trophy asset in a continuing tightening submarket,” Rogalla says.

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