8/28/2007

Suburban Chicago's Woodfield Corporate Center sells for $128 million

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A joint venture between Lincoln Property Co. and GE Asset Management purchased suburban Chicago's Woodfield Corporate Center for $128 million on Aug. 28.

CB Richard Ellis' suburban Chicago office brokered the deal.

Completed in 1986, the property consists of two buildings totaling 670,000 square feet located at 475 and 425 N. Martingale Rd. in Schaumburg.

The buildings were 80 percent leased at the time of sale to tenants such as Navistar Financial Corp., Pfizer Inc. and Society of Actuaries.

Lincoln Property is a Dallas-based commercial and residential real estate company.

Los Angeles-based CB Richard Ellis is a commercial real estate brokerage firm.

Address: 475 and 425 N. Martingale

Size: 670,000 square feet

Built: 1986

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Filed Under: Office

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