CHICAGO—An affiliate of Equus Capital Partners, Ltd., has just acquired Naperville's iconic MetroWest building, located at 55 Shuman Blvd. Equus has a good deal of experience in the local office market, experience that should give it confidence in its newest purchase. It also owns Tallgrass Corporate Center, a 50-acre, class A development in suburban Bolingbrook that lost its anchor tenant in 2004, but was later filled up again and Equus has kept its occupancy level up ever since. And with MetroWest, it has a property that underwent a renovation in 2013 and is already 92% occupied.
Major tenants include Wells Fargo, Dun & Bradstreet, Stanley Convergent Security Solutions and UPM Kymmene, Inc.
"There are no real plans to upgrade tenants since the roster is so strong," Matthew Latimer, a Chicago-based vice president of Equus, tells GlobeSt.com. He oversaw the transaction for the firm. "The Western East-West office submarket has tightened significantly and we see continued demand from tenants for full amenity buildings with great locations, such as MetroWest."
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
