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ROCKFORD, IL-A Los Angeles-based investor has acquired a 77,200-square-foot office building 100% leased and occupied by Blue Cross Blue Shield of Illinois for the next 10 years. The high-net worth individual bought the 11-year-old building from a Chicago-based investor for $12.3 million.

The buyer used proceeds from a 1031 exchange out of a multifamily property in California, according to Craig Tomlinson of Stan Johnson Company. He represented the buyer in the transaction, while Kevin Lynch of Sperry Van Ness represented the seller.

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