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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.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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