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GE, Lincoln Buy Two Office Sites for $114M

SCHAUMBURG, IL-The two-building property in the Woodfield Corporate Center is now owned by GE Asset Management and Lincoln Property Co.

By Gina Kenny | Updated on December 10, 2007

SCHAUMBURG, IL-A joint venture of Dallas-based Lincoln Property Co. and an affiliate of General Electric Pension Trust advised by GE Asset Management acquired the 425 Martingale Rd. and 475 Martingale Rd. from J.P. Morgan Chase & Co., based in New York City. The sales price was approximately $114 million, sources say.

The two-building property has a total of 700,000 sf of office space in the Woodfield Corporate Center, according to a press release from GE Asset Management. Representatives from GE Asset Management were not available for comment.

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