"Athletico looked at several other buildings, but in the end they wanted to invest in an Oak Brook address," says Grubb & Ellis Co. senior vice president Michael Fortuna, who represented Athletico Ltd. and Liberty Suburban Chicago Newspapers. Athletico will likely use half of the 32-year-old building and lease the remaining space, with Fortuna handling that assignment.
Fortuna is a familiar face in the eastern end of the East-West Corridor, having sold 600, 619, 625, 714, 724 and 800 Enterprise Dr. "The availability of smaller buildings between 7,500 sf and 50,000 sf are in high demand by users, but they also very scarce," he says. "What I have found is that the trend is toward ownership of the properties by users--not investors. Everyone wants to be here, but there is simply not enough available inventory."
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