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O’Hare Office Portfolio Trades at Auction to MK Asset Investment
A two-property office portfolio in Des Plaines has been sold, with Marcus & Millichap’s John Abuja, senior vice president investments in the Chicago office, closing on behalf of the individual and personal trust seller. Abuja also secured the buyer, MK Asset Investment.
Abuja worked with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services to market the asset. Steven Weinstock, the firm’s Broker of Record in Chicago, assisted in closing the transaction.
“Office buildings are still an attractive investment option, especially for competitive yields, despite rumors that the office market is not transacting,” said Abuja. “There is a flight to quality assets and locations, and these two O’Hare submarket buildings attracted a myriad of qualified office investors.”
The four-story Regency Office Plaza is located at 2700 S. River Road and spans 139,733 square feet. Continental Office Plaza is located at 2340 S. River Road, and the multi-tenant building encompasses 134,082 square feet.
