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HOFFMAN ESTATES, IL-In a joint venture with Oak Brook-basedInland American Real Estate Trust Inc., Minto Builders REIT ispurchasing the 1.69-million-sf SBC office complex here for $338million. Currently 100% occupied by SBC Services Inc., thetelephone-service provider will remain in the three-buildingcomplex for the next 11 years with the option to continue occupancyfor up to 40 years. The purchase price totals approximately $200per sf for the campus.
Joe Cosenza, president of Inland Real Estate Acquisitions, saidin a statement that this is the largest single purchase for Inlandin the past 35 years.
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