JLL Capital Markets today announced the closing of the sale of Edens Corporate Center, a two-building office building located at 630-650 Dundee Rd. In Northbrook, Illinois.
JLL worked for the seller, KBS, to close the sale to Bradford Allen Investment Advisors.
Edens Corporate Center rises over four floors and consists of a total of 188,040 rentable square feet. The two buildings were originally constructed in 1987 and 1988 respectively, and then renovated in 2016-2019. The property has a variety of amenities, including heated parking, outdoor patio, café, fitness center, yoga room, and bicycle storage.
The property is located in one of the wealthiest and most attractive communities in the northern suburbs of Chicago, also known as the “North Shore”. The region quickly embraced the migration of Millennials moving to the suburbs, which constitute one of the most important segments of the workforce today, and enjoys an exceptionally strong demographics with an average household income. exceeding the national average.
“We are very pleased with the strategic execution of this divestiture by JLL Capital Markets,” said Dan Park, asset manager of Edens Corporate Center and senior vice president of KBS.
The JLL Capital Markets team representing the seller was led by Senior Managers Patrick Shields and Sam DiFrancesca and Senior Managing Directors Jaime Fink, Jeff Bramson and Bruce Miller.
“Edens is a perfect example of a smaller rental property that has seen its people come back to the office, make space decisions and adjust their footprint accordingly,” Shields said. “There will be a great rental story here and we can’t wait to see it unfold.”
JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupants. The company’s in-depth knowledge of the local market and global investors provides clients with best-in-class solutions, whether it is investment selling advice, debt placement, equity placement or recapitalization . The company has more than 3,700 capital markets specialists around the world with offices in nearly 50 countries.