"Bannockburn Corporate Center property is a high-quality building in an excellent location, and we expect the property will enhance our offerings in the north suburban market and provide our Company a favorable yield on our investment," says Chief Executive Officer and Chairman of the Board Richard A. May. "The property is only two years old and the weighted-average lease term is 8.1 years."
However, the building's current occupancy stands at 81.5% occupied. Great Lakes projects the first-year capitalization rate at approximately 9%.
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