GlenStar Closes on 1M-SF Complex

ROLLING MEADOWS, IL—Chicago-based GlenStar Properties, LLC, along with a joint venture partner, has finished the acquisition of Continental Towers, a 910,796-square-foot office complex located in northwest suburban Rolling Meadows, from CW Capital on behalf of the owner 1701 West Golf Road Holdings, LLC. They did not disclose the price. GlenStar officials say they will immediately start a robust capital improvement campaign and restore the complex to what they term its former “top of market” status.

“Continental Towers was, at the time it was built, one of the premier suburban office complexes. But over the past 10 years there has been very little investment of capital at the property,” says GlenStar principal Michael Klein. “Our goal is to bring it back to a Class A, top of market complex.”