Mark Smith, SVP with CB Richard Ellis, represented the buildingowner in the lease transaction. Woodfield Corporate Center has atotal of 711,532 sf in 425 Martingale Rd. and 475 Martingale Rd.The complex was acquired in December 2007 by a joint venturebetween an affiliate of General Electric Pension Trust and LincolnProperty Co., says Fritz Schaupp, SVP with Lincoln Property Co.
The buildings are near Interstate 290 and the 2.2-million-sfWoodfield Mall. Amenities for the buildings include a fitnesscenter, conference center, 11,000-sf deli and covered parking,Schaupp says. The buildings, which were constructed in 1986, are83% occupied. The asking lease rate for the complex is $15 per sf,net, Schaupp tells GlobeSt.com. Other major tenants include Pfizerand Canon Business Solutions.
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