SSR Realty Advisors sold the 117,841-sf building at 999 Oakmont Plaza Dr., built in 1986; as well as the 74,279-sf building at 900 Oakmont Lane, built the previous year. Although financial details were not disclosed, the two properties, known as Oakmont Corporate Center I and II, have a market value of $20 million, according to their most recent assessment. SSR Realty Advisors acquired 999 Oakmont Plaza Dr. in 1996 for nearly $13.7 million, property records indicate, buying the building on 5.7 acres from another insurance company, John Hancock Mutual Life.
Cushman & Wakefield of Illinois pegs vacancy in the 22.5-million-sf eastern end of Iinterstate 88 at 22.1%. On the western end of the 34-million-sf East-West Corridor, total vacancy stands at 31.2%, according to Cushman & Wakefield's most recent market report.
Sun Life Financial senior investment officer John Mulvihill handled negotiations for his company, which boasts a $780-million portfolio in 77 assets.
Published gross lease rates at the buildings start at $22 per sf.
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