Office N Illinois

Podolsky Circle represents seller of office/flex property in $2.6M transaction

Podolsky Circle represents seller of office flex property in $2.6M transact,ph01

Podolsky Circle CORFAC International facilitated the sale of 1000 E. State Parkway in Schaumburg, Illinois. 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, Clear Height Properties, in the transaction. The property sold 100 percent leased to a high-net-worth investor for $2,675,000 ($61.00 per square foot).

the property is a 43,800-square-foot, office/flex building located in Woodfield Business Center. Conveniently situated near Route 53 and I-90, the property is located within minutes to hotels, restaurants and shopping and is comprised of approximately 60 percent office and 40 percent warehouse space.

“The buyer saw the intrinsic value of a well-maintained and strategically located asset with stable, long-term tenants, full occupancy and limited capital requirements,” said Homsher. “The lack of similar single-story, office/flex assets on the market bolstered the appeal of 1000 E State Parkway. The property represents a significant void in the market and this product type is simply not being replicated.”

Clear Height Properties is a real estate investment and management company headquartered in Chicago, Illinois. Kelly Joyce of Colliers International represented the buyer in the transaction.