The Oak Brook Pointe complex, on 15 acres just east of Oakbrook Center mall, offered the Des Moines-based insurance company a 79,829-sf building 100% occupied by McDonald's Corp. The larger building, 700 Commerce Dr., is occupied by 10 tenants. Published net lease rates there are $19.50 per sf.
"This is a core purchase with good long term leases in the right location near the mall," says Principal Global Investors director Mark Hanrahan. His company's Principal Real Estate Investors advised the insurance company on its acquisition in a deal brokered by Cushman and Wakefield of Illinois Inc.
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