L.A. Investor Picks Up Deerfield Office
Los Angeles-based Stanton Road Capital (SRC) has acquired Arbor Lake Centre, a 228,000-square-foot Class A office property in Deerfield, IL. Deal terms were not disclosed; published reports said SRC paid $18.7 million.
Developed in 1986, the six-story property was 75% occupied at closing by a diverse group of tenants including L’Oreal, Miller Cooper, AXA Equitable and Personal Staffing Group. SRC has plans for capital improvements.
“Arbor Lake Centre is a property we have tracked closely over the last six months,” said SRC’s Tim Ronan Jr. “The location and access have always been the strengths of this property. With our planned upgrades to the building amenities and common areas, we feel that the asset will be very well-positioned to continue to retain and attract high-quality corporate tenants,”
Colliers International will serve as Arbor Lake’s leasing agent and property manager. The sale was facilitated by CBRE.
Get to know us and Chicago’s commercial real estate elite at Connect Media’s Chicago launch event, scheduled for Nov. 8.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition