Both buyer and seller were represented by Cushman &Wakefield in the deal. Senior Director Ned Franke represented DeVryin the sale, and Susan Rosen of the firm represented sellerQuadrangle. Franke said DeVry, which runs a network of schoolsnationwide, will use the two-story office building to expand itsonline operation from its existing headquarters in Naperville.


"It was centrally located, which they liked," Franke said. "Theythought it was an efficient building for what they were doing. Thelarge floorplates were desirable given their layouts, and it's alarge site with a large parking ratio."


The building, also known as Wood Dale Preserve, sits on 9.3acres in the near northwest suburban market, Franke said. "There'sa large office market in that area, but there weren't many otherslike this that had those characteristics for sale," Frankesaid.


Developer Quadrangle, who sold the building, had owned it forabout two years. The company purchased the site in June 2006 for$6.8 million, sources say. "They bought it with the intention ofselling it," Franke said. "They thought it was a good value play atthe time.

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