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Highland Park’s Tesla Building Trades in 1031 Deal
Chicago-based Berger Asset Management has completed the $8.75-million sale of the Tesla Building at 1200 Old Skokie Valley Rd. in Highland Park, IL. The buyer, Hawaii-based Kam Development, acquired the building as part of a 1031 exchange arranged by B+E.
The Tesla Building is a two-story structure totaling approximately 52,000 square feet. Tesla occupies roughly 32,000 square feet with sales, service and charging stations. Bystol Performance Center, a sports performance and personal training firm, occupies approximately 20,000 square feet.
The Equitable Group of Companies’ Joshua Silverglade represented Berger Asset Management. B+E’s Spencer Henderson worked with the buyer to source an off-market property using 1031Trade, B+E’s new trading platform for 1031 exchange buyers.
“B+E’s online platform used AI to sweep the national market and find an off-market net lease property that matched our buyer’s criteria,” said Henderson.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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