Office N Illinois

Podolsky Circle represents seller in Northbrook office sale

  

Podolsky Circle CORFAC International handled the sale of 400 Skokie Boulevard in Northbrook, IL. The Podolsky Circle Middle Market Investment Advisory Team, comprised of managing principal Alissa Adler, principal John Homsher, CCIM and senior vice president Paul Tesdal, represented the seller, Syndicated Equities, in the $20,950,000 transaction. The property sold to Ameritus Real Estate Investment.

Built in 1984 and renovated in 2012, 400 Skokie Boulevard is an eight-story, 195,326 square foot, multi-tenant office building that features a WI-FI café, fitness center, conference center, on-site storage as well as two balconies on the second floor. Currently 77 percent leased, the property benefits from its location in the well-established North Suburban office market and its proximity to I-94. The location also provides tenants with easy access to a myriad of restaurants, hotels and shopping.

“We are pleased to have represented Syndicated Equities in the sale of 400 Skokie Boulevard,” said Adler. “The property provided an incredible investment opportunity to own a dynamic, value-add office building that has historically out-performed the market. The property’s stable tenant roster, high visibility and easy access to I-94, as well as its proximity to executive housing along the North Shore, made it a highly sought after asset.”

Podolsky Circle managed 400 Skokie Boulevard prior to the sale and has now been retained by the new owner to continue the property management assignment.