The price reportedly is $65 million, though an Accenture spokesperson could not confirm it. Allstate officials, who are reportedly planning to move 1,500 employees to the former Accenture property, were unavailable.
The building ranges up to three stories, consisting of inter-connected sections of varying height, says Accenture marketing director Bob McHenry.
While the reported sales price would be about $25 million less than the price paid for Windy Point I and II in Schaumburg, the $180 per sf price would approximate the deal that closed on the final day of 2001. It also is significantly higher than the $32-million purchase by Great Lakes REIT of 3000 Lakeshore in Bannockburn last year, the north suburban market's last big deal.
The submarket along the Tri-State Tollway is saw its vacancy rate jump 8 percentage points last year to 18.8% to begin 2002, according to Cushman & Wakefield, thanks to 703,000 sf of new construction and a 15% jump in available sublease space. However, the firm notes rental rates were up 4.8% to $22.54 per sf.
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