Transwestern had purchased the nine-story Columbia Centre III in November, and the adjacent 149,000-sf, 77% occupied Columbia Centre II building in 2005, on behalf of Aslan. Columbia Centre I, the first building built in the complex, has 220,849 sf and is 49% occupied. Tenants include US Sprint Communications, Global Workplaces Inc. and USAA Realty Co.
The complex is on 4.3 acres at 5600 North River Rd., and is in the O'Hare office market. According to US Equities Realty, the average lease rates for class B property in that market is $7 to $10 per sf, net.
Jeff Bramson and Jaime Fink, managing directors of the Chicago office of Holliday Fenoglio Fowler LP, represented Prime Real Estate Equities. Neither returned calls for comment. Dan Deuter, vice president of acquisitions for Transwestern, had said in the Centre III lease deal that purchasing the properties together will result in efficiencies in leasing and management.
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