Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of Evanston MetroCenter (the “Property”), a transit-oriented office building with dual investment grade anchors. Located just steps away from the Davis Station, which houses both the Metra and CTA lines, the Property has unrivaled access to various labor pools in both the suburbs and downtown. Home to multiple investment grade tenants, including Accuity (parent RELX Inc.; S&P: BBB+) and Northwestern University (S&P: AA+), the Property boasts a weighted average lease term of 6.0 years, providing long-term income stability for an investor. Evanston MetroCenter has recognized remarkable leasing success in 2020 and 2021, with occupancy reaching 91.3%. The combination of commercial zoning requirements and lack of feasible development sites in downtown Evanston result in limited Class-A office product, further positioning the rare Property as one of the few premier assets in this vibrant downtown. Evanston MetroCenter provides an investor the opportunity to acquire a core Class-A office asset with exceptional transit access and investment grade tenancy in the heart of Evanston.
- Unrivaled Transit-Oriented Location
- Supply Constrained Evanston Office Market
- Strong Recent Leasing Success - 2020 & 2021 Activity Accounts for Over 20% of Building RSF
- Investment Grade Tenancy - 55% of Property RSF
- Immediate In-Place Cash Flow with Mark-to-Market Potential