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|Number of units||133971|
Jones Lang LaSalle Americas (Illinois) L.P. (JLL) has been exclusively retained to offer the unique opportunity to acquire East/West Corporate Center, a two building Class A office park located in the prestigious western suburbs of Chicago. Prominently situated adjacent to the 4-way interchange of I-88 and US Route 59, the property consists of 225,895 rentable square feet (RSF) and is leased to fifteen tenants, with nearly 50% of the net rentable office area occupied by investment grade, publicly traded companies.
East/West Corporate Center is located in Naperville, one of the most highly regarded cities in the US, recently being named the #3 Best City to Live in America as of 2020. The property benefits from a DuPage County address and is an attractive low-rise suburban alternative in today’s post-COVID market. Currently 77.5% leased across the two buildings, East/West Corporate Center provides investors the opportunity to acquire a value-add asset with significant lease-up potential at a substantial discount to replacement cost.
- Best-of-the-best tenancy
- 62.3% Headquarters Tenancy
- 47.7% Investment Grade Tenancy
- Highly desirable access to area amenities
- Proximate to the transformational $200MM+ shopping, dining, and entertainment hub, CityGate West will span over 100 acres and transcend the immediate corridor along I-88
- Considerable rent growth at the property
- 91% increase in contractual rents across the office park since 2010
- Full amenity set = leasing velocity
- 32% higher rents in amenity rich buildings vs. the overall suburbs
- 7.9% less in vacancy for Class A amenitized buildings vs. the overall suburbs
- Established corporate location in one of the country’s best ranked cities
- Naperville is the #3 Best City to live in America
- Attractive low-rise suburban alternative in today’s post-Covid market
- Excellent highway frontage and visibility from the I-88 / US Route 59 Interchange
- DuPage County tax advantage
- Strong demographic base in Chicago’s East/West corridor
- Substantial discount to replacement cost
- 120% discount to new suburban construction