HSA Commercial Real Estate Acquires Fully Leased Flex/Light industrial property in Downers Grove, IL
June 1, 2007
(Chicago – June 1, 2007) Jack Shaffer, chairman, and Robert E. Smietana, CEO, Vice Chairman, announced that HSA Commercial Real Estate is continuing its acquisition of commercial real estate properties in the Chicago metropolitan area with the purchase of 3100 Woodcreek Drive, Downers Grove, Ill., known as Woodcreek Business Center. The 56,441-square-foot property was purchased from a private investment trust.
The property was developed in 1984 and consists of two separate, but connected, buildings totaling 54,441 square feet. Building 1 is a two-story office property totaling 24,870 square feet and Building 2 is a single-story structure totaling 31,681 square feet that could be utilized for warehouse, manufacturing or laboratory operations.
Gibson Electric Company, a wholly owned subsidiary of EMCOR Group Inc., occupies the entire 56,441 square feet with a lease running through July of 2017. They are a leader in the electrical and telecommunications industry in the Chicagoland area.
The buildings, which have been impeccably maintained by previous ownership, are constructed of steel frames and glass facades and are sited on 4.86 acres. They provide exceptional access to the Chicago expressway system and are less than ½ mile from a full interchange at I-355 and Butterfield Road.
Jeff Devine, Steve Disse and Jeff Kahan of Colliers, Bennett & Kahnweiler represented previous ownership in the transaction, while HSA represented itself.
Celebrating 26 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 12 states and the firm presently owns over 17 million square feet of commercial property in 14 states.
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