HFF Closes $62M Sub. Office Sale

CHICAGO—Although the suburbs suffer from an elevated vacancy rate and continue to see some of its office tenants move into Chicago’s CBD, many top properties seem immune to these troubles and remain very attractive to investors. HFF recently closed, for example, the $62 million sale of Highland Landmark II, a 284,278-square-foot class A office building in the western suburb of Downers Grove. HFF marketed the property on behalf of GLL Real Estate Partners. James Campbell Company LLC, which was advised by Colony Realty Partners, purchased the building.

The eight-story building sits on 11.03 acres at 3025 Highland Parkway, approximately 21 miles west of downtown. The Energy Star-labeled property features an atrium, conference facility, cafe, surface and covered parking and fitness center. Fourteen tenants, including NSA Media, Microsoft Corporation, Principal Life Insurance Company, Ford Motor Company, Yang Ming, Property & Liability Research Bureau and Management Association of Illinois lease 94% of the tower.