**Greenstone Partners Brokers Sale of 110,000-SF Office Building in Naperville**
Greenstone Partners has successfully completed the sale of 387 Shuman Boulevard, a 110,000-square-foot office building located in Naperville, Illinois.
The brokerage firm’s Jason St. John and AJ Patel exclusively represented the seller, a Naperville-based office operator. The buyer is a private partnership headquartered in Dallas, Texas. The property was marketed in conjunction with a CREXi Auction and ultimately sold to the highest bidder for $6.4 million.
Ownership had made significant capital improvements to the building prior to the sale. These enhancements included a new parking lot, updated lobby and corridors, renovated restrooms, modernized HVAC, upgraded electrical and plumbing systems, and a new roof. The tenant mix primarily includes medical and general office users.
“This transaction presented the buyer with a rare opportunity to acquire a premier asset in the prestigious Naperville submarket at an attractive basis during a period of office market recovery,” said Jason St. John, Managing Partner at Greenstone Partners. “Long-term, the property is well positioned for a transition into more of a medical office use given its proximity to leading hospital systems.”
