KBS Realty and FDIC finalize lease
January 28, 2010 | Staff Writer | Print Article | Email this Article
KBS Realty Advisors of Newport Beach, Calif. has finalized a total-building,150,705-square-foot lease at Woodfield Corporate Center in Schaumburg, Ill.
The new lease with the Federal Deposit Insurance Corporation (FDIC) is for the entire 200 N. Martingdale Road building that KBS acquired in September 2005.
Mark Smith and Jack Reardon of the Schaumburg office of CB Richard Ellis represented KBS in the transaction, while Keith Lavey and Jim Lockhart of Grubb & Ellis represented FDIC, which is establishing the office to handle receiverships and asset sales for banks throughout the Midwest.
KBS maintains a regional office in Chicago, and owns more than 1.1 million square feet in the Woodfield submarket, including two buildings at Woodfield Preserve Office Center, 10 and 20 N. Martingdale Road, acquired in September 2007.
The Newport Beach, Calif.-based commercial real estate investor’s Illinois portfolio totals more than 2.3 million square feet, and includes Mid American Plaza in Oakbrook Terrace, Oak Creek Business Park in Lombard and One Energy Center in Naperville, among other properties.
© 2012 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com
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