KBS REIT’s latest Chicago-area office purchase

Deal features two large, six-story buildings
Published on Nov 16, 2007

KBS Real Estate Investment Trust this week announced it has acquired the Woodfield Preserve Office Center in Schaumburg, Ill., for an undisclosed price. The two-building, class A property, sold by J.P. Morgan, is comprised of 647,196 square feet of rentable space on 23.7 acres of land. The property consists of 10 North Martingale, a 304,876-square-foot building constructed in 2000, and 20 North Martingale, a 305,586-square-foot building constructed in 2001. At the time of sale, the property was 96.5 percent leased by a 28-tenant roster that includes IBM, RSM McGladrey, Chef Solutions and American Family Insurance. ...

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