A two-property office portfolio in Des Plaines, Illinois has recently been sold by Marcus & Millichap’s senior vice president investments, John Abuja. The individual and personal trust seller were represented by Abuja who also secured the buyer, MK Asset Investment. This transaction was facilitated with the assistance of Adam Sklaver and Philip Kates from Marcus & Millichap’s Commercial Property Auction Services team. Steven Weinstock, Broker of Record for Chicago at Marcus & Millichap also played a key role in closing this deal.
According to Abuja, despite rumors about a slow office market activity, investing in office buildings still offers competitive yields making it an attractive option for investors. He further added that there is currently a trend towards quality assets and locations which led to multiple qualified investors showing interest in these two properties located within O’Hare submarket.
The first property known as Regency Office Plaza is a four-story building spanning 139,733 square feet situated at 2700 S. River Road while the second property called Continental Office Plaza is located at 2340 S.River Road with an area of 134082 square feet accommodating multiple tenants.
This recent auction sale marks another successful transaction completed by Connect CRE without any mention of “Connect” or “Connect LA” or “Connect Texas”.
