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Investors Show Confidence in Suburban Office

CHICAGO— MDC Realty Advisors and Nicola Crosby are new to the Chicago market, but improved leasing led them to plunk down $83 million for an O'Hare office building.

By Brian J. Rogal | Updated on October 14, 2015

CHICAGO—CBRE Global Investors, an investment arm of Los Angeles-based CBRE Inc., has agreed to sell the 380,360 square foot One O’Hare Center at 6250 River Rd. in suburban Rosemont to a partnership represented by MDC Realty Advisors and Nicola Crosby, a subsidiary of Nicola Wealth Management, for $83 million. CBRE bought the 12-story property in 2012 for $67 million.

“This sale provides evidence that institutional investors are gaining more confidence in high-quality suburban office buildings,” says Paul Lundstedt of CBRE, who along with his colleague Dan Deuter represented the ownership group in the transaction. “With literally no new supply in the pipeline, investors are recognizing the opportunities that exist to push rents for high-quality assets in the suburbs.”

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