Woodfield Corporate Center
Chicago (Schaumburg), Illinois USA
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Asset management and owner representation to joint venture partnership in Woodfield Corporate Center, then the leading mixed-use development and corporate campus in suburban Chicago. Facilities at Woodfield Corporate Center include several high-rise multi-tenant office towers, the Schaumburg Marriott Hotel, and ancillary retail and restaurants. The 48-acre 1.9 million sq.ft. office, hotel, and ancillary retail ceter was developed in four phases from 1982 to 1986.
In collaboration with venture partner Prudential Insurance Co., a repositioning and remarketing of the facility were completed, including the selection and appointment of U.S. Equities as property manager and leasing agent. Work completed by Firm Principal while with predessor firm.
Some time later, in 1999, the suburban Chicago complex sold for $200 million+ to New York-based J.P. Morgan Investment Management Inc. The 1.6 million sq. ft. suburban office complex was the largest suburban office development to sell in the United States during that year. It was 91% occupied at the time.
Client: NEI Investor Group, Prudential Insurance Co.
