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HOFFMAN ESTATES, IL-A 110,000-square-foot office building here has traded for $32 million. McShane Development Co. sold the property to W.P. Carey & Co. in an all-cash transaction.

The property is located at 2400 Huntington Blvd. and is part of the 70-acre Huntington Woods Corporate Center McShane is developing.

“This represents one of the largest office sales in the suburbs this year and definitely one of the highest priced deals as well,” says Jim Carpenter, senior director at Cushman & Wakefield. Carpenter and executive director Ken Szady of the capital markets group brokered the deal.

“The equity markets demand the highest quality, best located and strongest credit tenants, all of which this transaction offered and those were the primary drivers of why we were able to achieve premium pricing of over $320 PSF,” Szady says.

The building was built for Mori Seiki, a Japan-based machine tool maker. Construction completed this summer and the company now utilizes the space for its North and South American headquarters office and showroom. It’s located north of Interstate 90 off the Barrington Road interchange.

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