Mark Smith, SVP with CB Richard Ellis, represented the building owner in the lease transaction. Woodfield Corporate Center has a total of 711,532 sf in 425 Martingale Rd. and 475 Martingale Rd. The complex was acquired in December 2007 by a joint venture between an affiliate of General Electric Pension Trust and Lincoln Property Co., says Fritz Schaupp, SVP with Lincoln Property Co.
The buildings are near Interstate 290 and the 2.2-million-sf Woodfield Mall. Amenities for the buildings include a fitness center, conference center, 11,000-sf deli and covered parking, Schaupp says. The buildings, which were constructed in 1986, are 83% occupied. The asking lease rate for the complex is $15 per sf, net, Schaupp tells GlobeSt.com. Other major tenants include Pfizer and Canon Business Solutions.
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