JV Snags IL Office Park for $129M
ByA joint venture between GFH Financial Group B.S.C., Lincoln Property Co. and Crestlight Capital has acquired Central Park of Lisle I and II, a Class A office property in Chicago’s suburb of Lisle, Ill. According to Yardi Matrix, the property traded for $129 million, funded by a $93.9 million loan held by Citibank. The previous owner was Equity Office Properties Trust.
Central Park of Lisle I and II are located at 4225 Naperville Road and 3333 Warrenville Road, respectively. Constructed in 1991, Central Park of Lisle I offers 281,526 square feet across six floors. Built in 2001, Central Park of Lisle II comprises 311,912 square feet across eight floors. Combined, the two buildings are 86 percent leased, with tenants including Armour-Eckrich Meats LLC, Millward Brown, Kone, CA Technologies and EMC Corp. The transaction also included the 7.5-acre development parcel to the east of the buildings. Tenants have access to amenities such as:
