KBS REIT’s latest Chicago-area office purchase

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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. ...